Aug 7 (Reuters) - Brazilian digital bank Inter&Co

reported on Wednesday that its net income in the second

quarter more than tripled, helped by a larger customer base and

larger return on equity.

Inter&Co's profit rose to 223 million reais ($39.42 million)

in the quarter, compared with 64 million reais in the same

period last year.

The firm's return on equity (ROE) - a measure of financial

performance - topped double-digits for the first time ever,

hitting 10.4%, and up from an ROE of 3.6% in the second quarter

of 2023.

"Our combination of growth and profitability is propelling

us to new heights," CEO Joao Vitor Menin said in a statement.

"The execution of our 60/30/30 plan continues at full speed."

Inter&Co has targeted 60 million clients, a 30% ROE and a

30% efficiency ratio by 2027.

Inter&Co reported more than 33 million clients at the end of

the quarter, up from just under 28 million a year earlier. Of

the 33 million, just over 55% were considered active clients.

The company also said that 3.3 million clients hold a U.S.

dollar-denominated account, which Inter&Co calls a global

account. Menin told Reuters in June that if growth rates held

up, around 6 million of its total target clients could hold

global accounts by 2027.

The bank's total payment volume grew 47% year-over-year to

290 billion reais.

($1 = 5.6567 reais)