Jorge Kuri: Good afternoon everyone. Congrats on the fantastic results, and thanks for the additional disclosure on the Brazil numbers. The profitability at this point is evidently really impressive, so congrats on that. I wanted to ask about the Money Boxes. It was a really positive surprise to see your funding cost at 78% of CDI, down from 95% in the previous quarter. To what extent this is a seasonal improvement based on the fourth quarter excess liquidity that normally comes in customers because of the in salary. Or is this sort of like the level from which you could continue to improve in 2023? And what do you think is the opportunity for you to continue to improve that number. If I remember correctly, I think in a couple of public forums, you said that maybe by the end of 2023, the funding cost could be at 80%. But evidently, you were 78% at the end of last year. So how do you see that evolving?
Guilherme Lago: Jorge, thank you so much for your question. We do expect the funding cost to remain largely at the same levels throughout the coming quarters, respective seasonality. As you correctly pointed out, in the fourth quarter of every year, we have the additional flow from the salary, which has in the month of December 2022, pushed down a little more the cost of funding than would otherwise be expected in a so-called normal month. However, we haven’t yet seen the full impact of the change in the remuneration. We will only see this in the first quarter of 2023. So with those puts and takes, we do expect that cost of funding at today’s levels is a sustainable level for us to see throughout 2023.
Jorg Friedemann: And our next question comes from the line of Tito Labarta from Goldman Sachs. Operator, please open his line.
Tito Labarta: Congratulations, pretty impressive results. My question is a little bit on the competitive environment. And just looking at — now you’re 58% of your active client base, you have its primary banking clients already when we look at the industry, some of your incumbent peers, particularly the ones focused on similar regions or income levels seem to be suffering a lot more than you are. So just to think about what do you think has been able to differentiate you and really manage this credit cycle in a way that many people didn’t think you potentially could and be able to deliver the results that you can. And if you could talk a little bit about how competition perhaps is influencing that? That would be helpful if you give some color on that.
David Velez: Sure, Tito. Thank you very much for the question. So I think the story that we’re playing out is a very different story that the incumbent banks are playing out because on one end, we have 44% of the ad population in Brazil as a customer, a very meaningful population. On the other hand, we have very small market share still in a lot of our products. In credit card, we have something like around 13%. On personal loans, we have about 3%. So we get to grow within our consumer base, cherry picking the best customers and can continue gaining share even if the environment is pretty adverse. So that’s the first big differentiation. The second consideration is, and this is, I think, a point that perhaps the market hasn’t understood that well.
