June 30, 2026

June 30, 2025

Interest on debentures and notes in hedge accounting

-90,125

-82,391

Interest on debentures and notes not in hedge accounting

-53,347

-49,326

Interest on short-term credits

-4,398

-2,449

Interest expense calculated using the effective interest method

-147,870

-134,166

Interest on derivatives related to funding portfolio

-12,434

-14,301

Other interest expense

-12,434

-14,301

Interest on leases

-514

-40

Total interest expense

-160,818

-148,507