Brazilian broker XP's profit gains from higher client assets

XP Inc posted a jump in third-quarter profit on Tuesday, as client assets at the Brazilian broker accelerated and helped offset weaker net inflows due to higher interest rates.

The country's largest brokerage said client assets rose 17% to 925 billion reais ($179.82 billion), while net inflows of 35 billion reais were 7% lower from a year ago. ($1 = 5.1439 reais)

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