And they use, it’s kind of half of what we had in the working capital. So you can imagine that in the short-term, the revenues are not as big as they used to be for the working capital. But when we start to stack different cohorts, this revenue will keep growing. And we are bringing these clients that we will guarantee the revenue, so to say, for a longer term, when compared to the working capital. So that’s the dynamics. And that’s why maybe we don’t see the revenue impact been growing as fast as we expected before, because we are changing the mix to have this asset quality a little bit more shift to security lending. And again, they have 4 times more duration and half of the yields. And it’s not secret for anyone that the payroll low in Brazil for public employees is limited to 2.14% per month.
That’s the top of the yield that any financial institution can charge from the clients in this product.
Soomit Datta: Okay, that’s great. Thank you.
Ricardo Dutra: Thank you.
Operator: Next question comes from Pedro Leduc with Itau BBA. Please go ahead.
Pedro Leduc: Thanks you guys, so much for taking the question. First, on cash flow, I would like to pick your brains a little bit as you’re calling off on TPV. We already saw better cash flow dynamics this quarter as we look into 2023, even if it’s macro driven, — is it reasonable to expect a more meaningful cash flow picture here? And then if so, what you believe is the best way to deploy it this quarter, we saw you paying down some debt, you bought back some shares. So cash flow outlook and ways to deploy it? Thank you.
Artur Schunck: So for the cash generation, obviously, we are in a positive side right now, and we expect to use this to also help us to fund in the operation, it’s a good way to use the money to help us in the growth of the company. Obviously, we have repurchase of shares program. We use it almost 40% of this program until now. And for now, I don’t have any answer to buy or not buy any shares, but it’s a possibility in the future. The price is pretty low now in the understanding, it’s a good price range to buy more shares to have in the treasury and use this money to do that. But the most important thing is the generation that we have in our cash flow right now. It’s important to us to support the growth of the company.
Pedro Leduc: Got it. And then the second unrelated question on credit. I’m not sure if you commented a bit on credit quality. This quarter, how provision expenses evolved if there — we’re seeing it peaking already? Just to take your brains a little bit on credit quality? Thank you.
Ricardo Dutra: Pedro, I’ll start here and then Artur can complement. Well, 100% of the credit that we had in Q3 was secured. So of course, that helps in NPLs. If you look at the NPLs, NPLs are trending down, and we plan to give more disclosure on that once the credit portfolio grow in the following quarter. So that’s what in terms of disclosure that I can give to point, but Artur can give you more details about the numbers and provisions and so on.
