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Management of financial risks and financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2025
Subclassifications of assets, liabilities and equities [abstract] |
Summary of financial assets representing the maximum exposure to credit risk | The carrying amount of the financial assets representing the maximum exposure to credit risk is shown in the table below:
|  | 2025 |  | 2024
Financial assets |  |  |  |
Securities purchased under resale agreements |  | 17,063,099 |  |  | 22,057,137 |
Securities |  | 248,464,341 |  |  | 203,701,541 |
Public securities |  | 102,576,751 |  |  | 93,717,169 |
Private securities |  | 145,887,590 |  |  | 109,984,372 |
Derivative financial instruments |  | 40,920,581 |  |  | 46,199,796 |
Securities trading and intermediation |  | 6,299,483 |  |  | 6,499,097 |
Accounts receivable |  | 1,366,424 |  |  | 778,943 |
Loan operations |  | 34,142,085 |  |  | 29,228,463 |
Other financial assets |  | 16,912,992 |  |  | 13,232,997 |
Off-balance exposures (credit card limits) |  | 8,016,517 |  |  | 7,873,551 |
Total |  | 373,185,522 |  |  | 329,571,525 |
Summary of financial liabilities into groupings based on their contractual maturities | The tables below summarize the Group’s financial liabilities into groupings based on their contractual maturities:
|  | 2025
Liabilities |  | Up to 1 month |  | From 2 to 3 months |  | From 3 to 12 months |  | From 1 to 5 years |  | Above 5 years |  | Contractual cash flow
Securities |  | 20,388,644 |  |  | — |  |  | — |  |  | — |  |  | 654,815 |  |  | 21,043,459 |
Derivative financial instruments |  | 3,464,532 |  |  | 808,169 |  |  | 9,905,322 |  |  | 18,347,974 |  |  | 5,020,943 |  |  | 37,546,940 |
Securities sold under repurchase agreements |  | 33,233,998 |  |  | 19,669,809 |  |  | 5,793,351 |  |  | — |  |  | 16,711 |  |  | 58,713,869 |
Securities trading and intermediation |  | 22,420,806 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 22,420,806 |
Financing instruments payable |  | 11,864,505 |  |  | 11,833,502 |  |  | 55,855,849 |  |  | 38,232,718 |  |  | 5,616,941 |  |  | 123,403,515 |
Borrowings |  | — |  |  | — |  |  | 237,894 |  |  | — |  |  | — |  |  | 237,894 |
Accounts payables |  | 691,171 |  |  | 66,554 |  |  | 52,432 |  |  | — |  |  | — |  |  | 810,157 |
Other financial liabilities |  | 7,105,929 |  |  | 887,012 |  |  | 3,991,554 |  |  | 336,235 |  |  | — |  |  | 12,320,730 |
Total |  | 99,169,585 |  |  | 33,265,046 |  |  | 75,836,402 |  |  | 56,916,927 |  |  | 11,309,410 |  |  | 276,497,370 |
|  | 2024
Liabilities |  | Up to 1 month |  | From 2 to 3 months |  | From 3 to 12 months |  | From 1 to 5 years |  | Above 5 years |  | Contractual cash flow
Securities |  | 14,830,405 |  |  | — |  |  | — |  |  | — |  |  | 422,971 |  |  | 15,253,376 |
Derivative financial instruments |  | 7,176,746 |  |  | 3,336,329 |  |  | 10,134,377 |  |  | 11,738,481 |  |  | 7,661,754 |  |  | 40,047,687 |
Securities sold under repurchase agreements |  | 71,779,721 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 71,779,721 |
Securities trading and intermediation |  | 18,474,978 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,474,978 |
Financing instruments payable |  | 6,140,457 |  |  | 16,786,357 |  |  | 29,109,323 |  |  | 37,796,433 |  |  | 5,415,912 |  |  | 95,248,482 |
Borrowings |  | — |  |  | — |  |  | 1,666,432 |  |  | — |  |  | — |  |  | 1,666,432 |
Accounts payables |  | 763,465 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 763,465 |
Other financial liabilities |  | 9,124,704 |  |  | 1,560,439 |  |  | 3,584,285 |  |  | 461,435 |  |  | — |  |  | 14,730,863 |
Total |  | 128,290,476 |  |  | 21,683,125 |  |  | 44,494,417 |  |  | 49,996,349 |  |  | 13,500,637 |  |  | 257,965,004 |
Summary of sensitivity analysis |
|  |  |  | 2025
Trading portfolio |  | Exposures |  | Scenarios
Risk factors |  | Risk of variation in: |  | I |  | II |  | III
Fixed interest rate |  | Fixed interest rate in Reais |  | (180) |  |  | (224,381) |  |  | (408,016) |
Exchange coupons |  | Foreign currencies coupon rate |  | (45) |  |  | (14,686) |  |  | (40,330) |
Foreign currencies |  | Exchange rates |  | (46) |  |  | 82,143 |  |  | 49,374 |
Price indexes |  | Inflation coupon rates |  | (303) |  |  | (48,538) |  |  | (80,711) |
Shares |  | Shares prices |  | (406) |  |  | 58,825 |  |  | 150,146 |
Commodities |  | Commodities price |  | (361) |  |  | (20,816) |  |  | (60,325) |
|  |  |  | (1,341) |  |  | (167,453) |  |  | (389,862) |
|  |  |  | 2024
Trading portfolio |  | Exposures |  | Scenarios
Risk factors |  | Risk of variation in: |  | I |  | II |  | III
Fixed interest rate |  | Fixed interest rate in Reais |  | (117) |  |  | (8,285) |  |  | 50,065 |
Exchange coupons |  | Foreign currencies coupon rate |  | (28) |  |  | (6,905) |  |  | (15,497) |
Foreign currencies |  | Exchange rates |  | (124) |  |  | 64,512 |  |  | 148,169 |
Price indexes |  | Inflation coupon rates |  | (68) |  |  | (11,606) |  |  | (24,563) |
Shares |  | Shares prices |  | (5,858) |  |  | (162,112) |  |  | (458,841) |
Commodities |  | Commodities price |  | (320) |  |  | (4,471) |  |  | 17,579 |
|  |  |  | (6,515) |  |  | (128,867) |  |  | (283,088) |
Scenario I: Increase of 1 basis point in the rates in the fixed interest rate yield, exchange coupons, inflation and 1 percentage point in the prices of shares, commodities and currencies; Scenario II: Project a variation of 25 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting by risk factor; and Scenario III: Project a variation of 50 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting from the risk factor.

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- Definition The disclosure of credit risk. [Refer: Credit risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Section Credit risk -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IFRS07_g35A-38_TI -URIDate 2025-03-27 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_10_e&doctype=Standard -URIDate 2025-03-27 + Details
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- Definition The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Paragraph 40 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&anchor=para_40_a&doctype=Standard -URIDate 2025-03-27 + Details
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