MercadoLibre, Inc. (NASDAQ:MELI) Q3 2023 Earnings Call Transcript

Osvaldo Gimenez: Actually, that is exactly what we’re doing. We have been increasing originations in Brazil, both on the on the consumer credit side and credit card side. On the consumer credit, probably what’s happening is, to some degree, we are — remember, up until a year ago, we were issuing more credit, then we became more restrictive. So you don’t yet see this impact in terms of the total portfolio. But originations are up, and we are expanding, as you said, into the mid-risk segment. And also on the credit card front, we have been able to expand our offering, and that’s where we are issuing more cards by — also by addressing this mid-risk segment and incorporating more information from third parties into our models.

Operator: And this concludes the question-and-answer session. I would like to turn it back now to Martin de los Santos, Chief Financial Officer for MercadoLibre.

Martin de los Santos: Thanks, everybody, for your questions. I’m looking forward to reporting back to you next year with our fourth quarter results. Good night.

Operator: Thank you for your participation in today’s conference. This does conclude the program, and you may now disconnect.