More averse to the spotlight, Marcelo Kalim , co-founder and CEO of C6 Bank , began to assume the role of spokesperson for the digital bank at the end of 2023. This period coincided with the first indications of a roadmap that materialized in 2024, with the delivery of the first annual profit from the operation.

It took just over five years for the bank, founded in 2019, to reach this milestone. But now, twelve months after announcing that it had turned its balance sheet black for the first time, the company is reaffirming this turning point.

C6 Bank ended 2025 with a net profit of R$ 2.46 billion, representing an 8.5% increase over the figure reported in 2024. And, according to Kalim, these and other indicators are just another chapter in what the bank has been writing in recent years.

“It gets a little boring and tedious to repeat the same thing for those who have been following us for a long time, because everything we said would happen, happened,” Kalim tells NeoFeed . “We haven’t changed our message much, but that’s the main point – to show the consistency of what we’ve been saying.”

Among other arguments reinforcing this new "routine," C6 Bank ended the year with 40 million customers – compared to 35 million in 2024 – and reported net revenue of R$ 9.2 billion, a 15% increase. Return on equity (ROE) was 45%, compared to 60% a year earlier.

“The ROE was lower due to the large growth in the loan portfolio,” he says. “And this portfolio increase is a detractor of earnings in the new IFRS accounting model. But even so, we achieved a high ROE and a large portfolio base, which is built-in profit for the coming years.”

In numbers, the expanded loan portfolio saw a 49% year-on-year jump to R$89.3 billion. Of this total, 45% was allocated to payroll-deducted loans, 28% to vehicle financing, and 14% to loans to individuals.

The delinquency rate for loans overdue by more than 90 days decreased from 2.6% at the end of 2024 to 2.9% last year. Meanwhile, provisions for doubtful debts (PDD) totaled R$ 2.51 billion, compared to R$ 1.91 billion a year earlier.

In these two areas, C6 Bank also highlighted the impact of the new accounting regulations, which, among other things, establish that banks must provision for part of future losses using probability models and not only after potential defaults have materialized.

In other figures for 2025, operating expenses were R$ 4.16 billion, compared to R$ 4.55 billion in 2024. Total funding grew 36%, to R$ 108.3 billion. The efficiency ratio – which measures a bank's cost to generate revenue – was 45%, compared to 57% in the previous year.

For 2026, Kalim says the bank will continue growing its portfolio. But, in line with the discourse adopted in recent years, this expansion will remain heavily focused on collateralized loans, which, in 2025, represented 80% of originated credit, compared to 77% in 2024.

“We will continue focusing on individuals, legal entities, payroll loans, vehicles, and home equity loans,” he says. “The only new development here is private payroll loans, which were already quite significant in the last quarter of 2025 and will be very significant this year.”

Kalim also doesn't foresee major changes in the macroeconomic scenario, especially regarding factors that could impact the bank's business and strategy, such as national growth, interest rates, and unemployment.

“All these issues are in line with what we’ve had in recent years,” he says. “Perhaps the most positive news is that we’re entering a small cycle of interest rate cuts. But nothing very significant. I don’t think they’ll reach a level low enough to bring about any kind of growth.”

This more “predictable” tone also extends when he is questioned about the new wave of Brazilian digital banks going public in the United States. This month, Agibank is expected to follow the same path as PicPay , which followed this route last week.

In addition to the duo, Nubank has had its shares listed on the New York Stock Exchange since 2021. A year later, Inter followed suit. In practice, this makes C6 Bank one of the few digital banks in the country to remain private. And there are no prospects of this status changing.

“Whether or not a company is publicly traded depends on the capital structure and the shareholders' willingness to continue or not in the operation,” says Kalim. “And, at this moment and in the near and distant future, I don't foresee any change in our capital structure.”

He emphasizes that C6's shareholders, including JP Morgan, are well-capitalized. He adds, "Our shareholders are interested in remaining in the business, and if we need resources, they can provide them. But that's not the case. In fact, we will probably start distributing capital."