Securities purchased (sold) under resale (repurchase) agreements

12 Months Ended

Dec. 31, 2025

Securities purchased sold under resale repurchase agreements [Abstract]

Securities purchased (sold) under resale (repurchase) agreements

6 Securities purchased (sold) under resale (repurchase) agreements

a) Securities purchased under resale agreements


	2025	2024

Collateral held	3,295,803	3,163,705
Brazilian sovereign bonds (i)	2,530,502	3,020,502



Corporate debt – local	573,982	27,560
Real estate–backed instruments	101,281	11,073
Other	90,038	104,570



Collateral repledge	11,866,126	18,895,796
Brazilian sovereign bonds (i)	260,629	11,297,972



Corporate debt – local	8,761,184	4,304,132
Real estate–backed instruments	1,729,958	1,982,544

Agribusiness–backed instruments	—	120,652

Interbank deposits certificates (CDIs) (ii)	632,257	815,302
Other	482,098	375,193

Collateral sold	1,903,735	—
Brazilian sovereign bonds	1,903,735	—

Expected credit loss (iii)	(2,565)	(2,364)

Total	17,063,099	22,057,137

(i) Investments in purchase and sale commitments collateral-backed by sovereign debt securities refer to transactions involving the purchase of sovereign debt securities with a commitment to sale originated mainly in the subsidiaries XP CCTVM, Banco XP and in proprietary funds.

(ii) Refers to fixed-rate fixed-income assets, which are low-risk investments collateral-backed.

(iii) The reconciliation of gross carrying amount and the expected credit loss segregated by stages are presented in the Note 13.

As of December 31, 2025, securities purchased under resale agreements were carried out at average interest rates of 15.44% p.a. (12.30% p.a. as of December 31, 2024).

As of December 31, 2025, the amount of R$3,518,460 (December 31, 2024 – R$2,885,843) from the total amount of collateral held portfolio and interbank deposits certificates, is being presented as cash equivalents in the statements of cash flows.

b) Securities sold under repurchase agreements


	2025	2024

Brazilian sovereign bonds	21,595,733	45,871,065



Corporate debt – local	22,607,747	14,889,816
Real estate–backed instruments	7,336,475	9,260,382
Agribusiness–backed instruments	1,544,830	1,741,369
Corporate debt – foreign	5,629,084	—
Other	—	17,088
Total	58,713,869	71,779,721

As of December 31, 2025, securities sold under repurchase agreements were agreed with average interest rates of 14.41% p.a. (December 31, 2024 – 11.85% p.a.).