US Market News
5日前
Data Nubank: Nubank Leads as Brazilians' Primary Financial Institution and Has Already Banked 31.5 Million PeopleJuly 1, 2026 2:36 PM
Business Wire Survey shows that across all regions of the country, around 30% of the population chose Nubank to concentrate their salary, payments, and financial products, highlighting the company's role in financial inclusion Nubank, one of the largest digital financial services platforms in the world, led primary institution incidence across Brazil in the fourth quarter of 2025, according to research conducted by NPS Prism by Bain & Company. In 17 states, roughly 30% of the population chose Nubank as their primary institution. This means that, across every region of the country, millions of Brazilians rely on Nubank to manage their salary, payments, and financial products. The data is part of Data Nubank, a study mapping the company's presence and impact in the country, now in its eighth edition. The report "From North to South: Nubank's Presence and Impact Across Brazil" details the institution's reach across all Brazilian regions, covering bancarization, GDP participation, and Nubank's primary incidence. According to NPS Prism by Bain & Company, the period's highlights were the North region, with a primary incidence of 34%, and the Northeast, with 31%. In these regions, roughly one in three Brazilians chose Nubank as their primary financial institution. Even in states with lower primary incidence, Nubank's presence remains significant, with all registering at least 23%, or nearly one in four people. Data Nubank also shows that the institution has already banked 31.5 million people in Brazil, a number equivalent to nearly one in five adults in the country. In more than 15 states, this figure represents over 20% of the population. "When we founded Nubank, we wanted to transform a financial system that excluded more than it included. Seeing that today we lead Brazilians' preference across every region of the country confirms that this change is real and has reached people's lives. This drives us to deepen our presence in the financial lives of Brazilians, offering products and services that continue to challenge what the traditional system has always normalized," says David Vélez, Founder and Global CEO of Nubank. "The data reveals something that goes beyond Nubank's presence across the national territory. It shows that where the traditional financial system has always been most absent, financial inclusion has advanced at a faster pace. This pattern reinforces the structural role that digital models can play in reducing access inequality in Brazil," says Eduardo Lopes, Director of Public Policy at Nubank. Banking deserts and financial inclusion Nubank plays an especially significant role in municipalities without physical bank branches, known as "banking deserts." Today, nearly half of Brazilian cities fall into this category, with states such as Paraíba, Piauí, and Tocantins standing out, where over 80% of municipalities have no physical branch. This scenario highlights the importance of digital channels in expanding access to financial services. The data shows that the higher the percentage of municipalities without bank branches in a state, the greater Nubank's primary incidence — demonstrating that where traditional alternatives are most limited, digital models become increasingly relevant in people's lives and, consequently, in promoting financial inclusion. Bancarization, GDP weight, and savings in Brazilians' pockets Data Nubank also reveals an inverse correlation between GDP per capita and the proportion of the adult population banked by the institution. In lower-income states, historically underserved by the traditional financial system, bancarization through Nubank has been higher, contributing significantly to expanding the population's access to financial services. This pattern extends to credit. In the Northeast, Nubank's credit reached 6.8% of the region's GDP in 2025. In one state in the region, the figure exceeded 8%. These figures underscore Nubank’s role as a key agent in the supply of credit to the local economy. Nubank's share of regional GDP credit is directly associated with the degree of primary incidence in each region. As an example, in the fourth quarter of 2025, Nubank's average primary incidence in the Northeast was 31%, and its credit participation in the region's GDP was 6.8%. The survey also estimates that, through 2025, Nubank customers accumulated savings of R$ 134.7 billion in fees and annual charges. This represents resources that were no longer spent on banking services and remained with consumers. View source version on businesswire.com: https://www.businesswire.com/news/home/20260701654738/en/ Media contact: press@nubank.com.br Original: Data Nubank: Nubank Leads as Brazilians' Primary Financial Institution and Has Already Banked 31.5 Million People
iHub News
1月前
Nu Holdings Shares Decline Following CFO Transition and Analyst Downgrade (NU)June 2, 2026 9:45 AM
IH Market News Nu Holdings Ltd. (NYSE:NU) shares fell 4.5% after BofA Securities downgraded the digital banking group to Underperform from Neutral and significantly reduced its price target, citing concerns surrounding the upcoming departure of Chief Financial Officer Guilherme Lago. The brokerage lowered its target price to $10.00 from $16.00, arguing that the leadership change introduces additional uncertainty at a time when the company is facing a more complex operating environment. BofA Highlights Importance of Departing CFO BofA Securities analyst Mario Pierry emphasized Lago’s central role in Nubank’s development over the past several years. According to Pierry, Lago played a critical part in overseeing the company’s financial strategy during a period of rapid expansion and improving profitability. “Was one of the company’s most important executives, overseeing its IPO and helping shape Nu’s financial discipline during a period of rapid growth and rising profitability. He also was the key market-facing executive and a central figure in communication with shareholders. While Livingston’s financial services experience is positive, the timing of the transition adds uncertainty, especially as Nu is navigating a more challenging phase for credit in Brazil and pursuing expansion into Mexico, Colombia, and the United States.” The analyst noted that although the incoming executive brings significant experience, investors may remain cautious as the transition unfolds. Leadership Change Scheduled for July Nu Holdings announced that Lago will step down from his role as Chief Financial Officer effective July 13. Following his departure, he will assume the position of Special Advisor and remain involved in supporting the handover process through August 31. The company named Rob Livingston as its next CFO. Livingston joins Nu after a long career in financial services spanning more than three decades and most recently served as Chief Financial Officer for Visa’s North America operations. Management said his experience will help support the company’s next phase of growth. Lago Oversaw Period of Rapid Expansion During Lago’s time at the company, Nubank transformed from a fast-growing Brazilian fintech into one of the largest digital banking platforms globally. When he joined the business in 2019, the company served approximately 20 million customers and operated exclusively in Brazil. Today, Nubank has expanded its presence across Brazil, Mexico and Colombia, reaching roughly 135 million customers. The company’s rapid growth, successful public listing and improving profitability all occurred during Lago’s tenure as a senior executive. New Finance Structure Being Implemented Alongside the executive transition, Nu Holdings announced plans to further strengthen its finance organization. The company will establish a dedicated Chief Financial Officer position focused specifically on its Brazilian operations. The move will complete a financial leadership structure that already includes local CFO roles in Mexico and Colombia, alongside the broader global finance function. Management said the appointment for the new Brazil CFO position will be announced at a later date. Investors Weigh Growth Against Transition Risks The market reaction suggests investors are focusing on the uncertainty created by the leadership change, particularly given the importance of Lago’s role in communicating with shareholders and managing the company’s financial strategy. At the same time, Nu continues to pursue expansion opportunities across Latin America and the United States while navigating evolving credit conditions in its core Brazilian market. With a new CFO set to take the helm and additional finance leadership changes underway, investors will be closely monitoring the company’s execution and growth trajectory over the coming quarters. Nu Holdings stock price Original: Nu Holdings Shares Decline Following CFO Transition and Analyst Downgrade (NU)
US Market News
1月前
Nubank Appoints Rob Livingston as Chief Financial OfficerJune 1, 2026 5:48 PM
Business Wire After five years as CFO and seven years at the company, Guilherme Lago will transition to an advisory role Nubank today announced the appointment of Rob Livingston as Chief Financial Officer, effective July 13, succeeding Guilherme Lago, who is transitioning to the role of Special Advisor, after five years as CFO and seven years at Nu. Lago will support the transition through August 31, and will remain as a Special Advisor to the Management Team of Nu Holdings and to its Audit and Risk Committee, advising on corporate development and other strategic matters. Livingston will be responsible for leading Nubank’s global finance organization, including capital and liquidity planning, financial reporting, corporate development, tax and investor relations. Rob Livingston brings more than 30 years of experience in financial services across North America, Europe and Asia. He joins Nubank from Visa, where he recently served as CFO for North America, the company's largest business. Over more than 12 years at Visa, he also led Corporate Finance and Investor Relations for Visa, Inc., served as CFO for Visa Europe and board member of Visa Europe Limited, and had business leadership roles in China and Canada. Prior to Visa, Livingston spent 18 years at Capital One, with deep experience in credit, marketing and finance and senior leadership roles including President of Capital One Canada, Divisional CFO, and serving as a Senior Credit Officer at the company. He holds a BA in Economics from Yale University. Under Lago’s tenure as CFO, Nubank scaled from a regional fintech to one of the world’s largest digital banking platforms, broadened its product portfolio across Brazil, Mexico and Colombia, and strengthened its balance sheet, profitability and capital position. "Lago has been a true partner and helped lead the finance organization through Nubank's growth into the leading digital bank in Latin America. After careful consideration, he decided this was the right moment to step down, and we shaped this succession together. Rob Livingston is the right person to lead the team through what comes next. Our priorities, growth in our core markets, reshaping Nubank around AI, and disciplined international expansion, are unchanged,” said David Velez, founder and CEO of Nubank. “I joined Nubank in 2019, when the company had around 20 million customers and operated only in Brazil. Today Nu has 135 million customers across three countries, with a finance organization strong enough to lead through any cycle. That is the work I am most proud of, and this is the right moment to step down. Thank you to David, the Board and every Nubanker for these seven years. I will stay engaged through the transition and remain close to Nu as an advisor," said Guilherme Lago. "I’m excited to be joining Nubank. What this team has built in only 13 years is truly extraordinary, but the opportunity ahead is even brighter and I'm extremely excited to be part of the next steps of Nu's journey. At Nubank, my focus will continue to be on superb execution of the finance organization, optimizing capital allocation, and supporting Nu's next stage of growth," says Livingston. The group will also have a dedicated Chief Financial Officer for Brazil role, completing a global and local finance leadership structure already established in Mexico and Colombia. The model reflects the scale and complexity of Nu’s operations, strengthening accountability and financial leadership in each market while enabling the Global CFO to focus on the company’s strategic priorities. The appointment to this new role will be announced in due course. About Nubank Nu is the world’s largest digital banking platform outside of Asia, serving more than 135 million customers across Brazil, Mexico and Colombia. The Company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu supports customers’ complete financial journeys with responsible lending, transparency and a low-cost, scalable business model. Nu’s impact has been recognized in multiple awards, including Time 100 Companies, Fast Company’s Most Innovative Companies and Forbes World’s Best Banks. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601015786/en/ Media contact: press@nubank.com.br Original: Nubank Appoints Rob Livingston as Chief Financial Officer
US Market News
2月前
Nu Holdings Ltd. Reports First Quarter 2026 Financial ResultsMay 14, 2026 5:53 PM
Business Wire Nu Holdings Ltd. (NYSE: NU) (“Nu” or the “Company”), one of the largest digital financial services platforms in the world, today released its financial results for the first quarter ended March 31, 2026, prepared in accordance with IFRS, as well as complementary managerial1 results. The financial statements and earnings presentation are available on the Company’s Investor Relations website at www.investors.nu, along with details of the earnings conference call to be held today at 6:00 p.m. Eastern Time / 7:00 p.m. Brasília time. “Our AI transformation is a core priority of Nu. We are not adding AI to banking, we are rebuilding banking around AI. NuFormer, our proprietary set of foundation models, is in production today for credit card in Brazil and Mexico, and for unsecured lending in Brazil. Our AI Private Banker functionalities already serve more than 15 million monthly active users. These capabilities have been a meaningful driver of the significant expansion of our credit portfolio over the last twelve months, enabling us to grow limits with resilience, not just speed. In Mexico, the same earnings-generating formula that built Brazil has reached its inflection point. We have achieved break-even and become the third largest financial institution in the market, reaching 15 million customers. All of this comes on top of another strong quarter, with more than 135 million customers, revenues surpassing $5 billion for the first time, net income of $871 million, and ROE of 29%.”, says David Vélez, founder and CEO of Nubank. Q1’26 Results Snapshot Below are the Q1’26 performance highlights of Nu Holdings Ltd. Unless otherwise noted, all the growth rates presented herein are on an FX neutral basis (FXN)2: Operating Highlights: Customer growth - Nu added approximately 4 million customers in Q1'26, reaching a total of over 135 million customers globally by March 2026. This expansion strengthens Nu's position as one of the world's largest and fastest-growing digital financial services platforms. In Brazil, Nu surpassed 115 million customers and solidified its position as the largest private financial institution in the country. In Mexico, Nu surpassed 15 million customers, becoming the third largest financial institution in the market. In Colombia, Nu delivered another solid quarter of net additions and is approaching 5 million customers. Engagement and activity rates - Monthly Average Revenue per Active Customer (ARPAC) reached approximately $16 in Q1'26, growing sequentially quarter-over-quarter (QoQ) once again and continuing its upward trajectory. Monthly activity rate3 held at 83% despite typical first-quarter seasonality, and expanded sequentially in Brazil, where Nu is approaching 100 million active customers. Low-cost operating platform - Efficiency Ratio improved to 17.6% in Q1'26 from 19.9% in Q4'25, driven by ARPAC outperformance and continued portfolio growth. As communicated during the Q4 call, the full-year efficiency ratio is expected to land roughly in line with where it ended 2025, as return-to-office costs scale and the Company continues to invest in international expansion and AI infrastructure. Asset Quality - Nu's leading indicator, the 15-90 NPL ratio, increased to 5.0% in Q1'26, up 89 basis points (bps) from Q4'25, consistent with its typical first-quarter seasonal pattern and broadly in line with the seasonal moves observed in 2024 and 2025. 90+ NPLs continued to ease, declining 10 bps to 6.5% this quarter, well below the 7.0% peak reached in Q3'24. The vast majority of this move came from seasonality, the historical pattern of early-stage delinquencies peaking in Q1. The next contributor was intentional expansions into higher-risk segments, where improved risk models have given Nu the confidence to extend credit profitably. Product mix and other minor effects explain the small remainder. Financial Highlights: Revenue, Net Interest Income (NII) and Risk-adjusted NIM - Nu's Q1'26 revenues surpassed $5 billion for the first time, driven by the continued strengthening of engagement and monetization across the platform. NII reached a record $3.25 billion in the quarter, up 12% quarter-over-quarter (QoQ). Net Interest Margin expanded to 21.1%, reflecting the credit portfolio growing faster than liabilities. Credit Loss Allowances closed at $1.79 billion, up 33% QoQ, driven by three dynamics: seasonality, portfolio growth, and product mix. As a result, Risk-adjusted NIM came in at 9.5%, down 100 basis points sequentially from 10.5% in Q4'25. Profitability - Nu's gross profit reached $1.88 billion in Q1'26, up 27% YoY. The gross profit mix reflected the elevated credit loss allowances in the quarter, which reduced credit's relative contribution and brought float to 41% of the total. Beneath that quarterly effect, a multi-quarter trend of genuine diversification continues, with credit, float, and fee businesses scaling and balancing each other. Net Income reached $871 million in the quarter, up 41% YoY, compounding at more than 80% YoY since 2022. ROE closed the quarter at 29%. Balance Sheet and Funding - Total deposits reached $42.4 billion this quarter, up 22% YoY. The cost of deposits closed at 88% of interbank rates, slightly higher sequentially. Total credit portfolio expanded 40% YoY and 7% QoQ to $37.2 billion, with credit cards at $24.3 billion, unsecured lending at nearly $10 billion, and secured lending at $3 billion. The Loan-to-Deposit Ratio (LDR), reached 58.3% in Q1'26, up from 49.1% in Q4'25 and 48.5% in Q1'25, reflecting the continued expansion of Nu's credit franchise. Business highlights: Deepening Leadership in Core Markets: In Brazil, Nu surpassed 115 million customers, and is the largest private financial institution in the country, with activity rates expanding sequentially and approaching 100 million active customers. Nu's share of Brazil's addressable profit pool — which exceeds $100 billion in annual gross profit — stands at roughly 7%, underscoring the significant runway for continued share gains across core banking categories. In Mexico, Nu crossed 15 million customers and became the third largest financial institution in the market, with the same earnings-generating formula now unfolding: the customer base has grown roughly seven times in four years, ARPAC has nearly doubled, the efficiency ratio has improved by 78 percentage points, and the business reached break-even in Q1'26. In Colombia, Nu continued to add customers and is approaching 5 million. AI Transformation as a Core Priority: Nu's AI Transformation advanced across three phases. In AI Assistance, now largely complete, AI is driving productivity gains across the company, with engineering throughput up 50% YoY, weekly token consumption nearly ten times higher than at the start of the year, and testing cycles 90% faster. In Workflow Reinvention, customer journeys are being rebuilt end-to-end, with new AI-native experiences expected to reach customers during 2026. In the AI-Native phase, Nu's AI Private Banker functionalities — financial insights, payments, credit advice, and debt resolution — are now serving more than 15 million monthly active users. NuFormer, Nu's proprietary set of foundation models, is in production today for credit card decisioning in Brazil and Mexico, and for unsecured lending in Brazil, with real-time AI valuation now pricing and approving every personal loan request individually based on its predicted NPV in under a second. These capabilities have been a meaningful driver of the significant expansion in Nu's credit portfolio over the last twelve months, enabling the franchise to grow limits with resilience, not just speed. Structural Advantages Powering the Transformation: Nu's AI Transformation is anchored by three structural advantages: first-party data at scale from 135 million transacting customers generating one of the largest and most differentiated financial datasets in the world; a proprietary cloud-native technology stack with core banking systems built internally and data unified across the company; and a world-class talent base of ten thousand employees from more than 50 nationalities across six countries. Disciplined Expansion into the United States: Nu is extending its model to the United States through a measured, capital-efficient approach designed to protect the core business while testing the long-term opportunity in a new market. Our maximum investment is expected to remain below 100 basis points on the consolidated efficiency ratio in each of 2026 and 2027, fully contained within the ~20% efficiency ratio range communicated for the year and without affecting Nu's long-term efficiency trajectory. Any incremental investment beyond this initial phase will be contingent on clear evidence of product-market fit and a credible path to profitable scalability — the same disciplined approach Nu has applied in Mexico and Colombia. ____________________ 1 In the fourth quarter of 2025, Nubank introduced its Managerial P&L, representing an evolution in our disclosure framework to better explain value creation across an increasingly multi-product, multi-segment, and multi-country platform. The Managerial P&L is a structural, complementary reorganization of IFRS line items designed to enhance comparability as the business scales, grounded in economic and operational substance. This framework preserves net income, cash flow, and capital, is fully reconciled to IFRS, and is designed for external assurance. All financial metrics presented reflect this framework. A full reconciliation of non-IFRS measures to the most directly comparable IFRS measures is available in our Managerial P&L Reconciliation Report and in the appendix of the earnings presentation. 2 FX neutral measures were calculated to present what such measures in preceding periods/years would have been had exchange rates remained stable from these preceding periods/years until the date of the Company’s more recent financial information. 3 Activity rate is defined as monthly active customers divided by the total number of customers as of a specific date. About Nu Nu is one of the largest digital financial services platforms in the world, serving above 135 million across Brazil, Mexico, and Colombia. The company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu caters to customers’ complete financial journey, promoting financial access and advancement with responsible lending and transparency. The company is powered by an efficient and scalable business model that combines low cost to serve with growing returns. Nu’s impact has been recognized in multiple awards, including Time 100 Most Influential Companies, Fast Company’s Most Innovative Companies, and Forbes World’s Best Banks. For more information, please visit https://international.nubank.com.br/about/. View source version on businesswire.com: https://www.businesswire.com/news/home/20260514553909/en/ Investor Relations
Guilherme Souto
investors@nubank.com.br Media Relations
Leila Suwwan
press@nubank.com.br Nu Holdings LTD.
NYSE: NU
investors.nu
international.nubank.com.br/newsroom/ Original: Nu Holdings Ltd. Reports First Quarter 2026 Financial Results
US Market News
5月前
Nu Secures Approval to Establish US National BankJanuary 29, 2026 2:09 PM
Business Wire
Nu (NYSE:NU), one of the largest digital financial services platforms in the world with 127 million customers, today announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) of the United States for the formation of a de novo national bank, Nubank, N.A.The conditional approval represents a milestone in the company's long-term strategy to expand its operational footprint and product offerings in the United States. Once fully approved, the national bank charter will allow Nu to operate under a comprehensive federal framework, facilitating the launch of deposit accounts, credit cards, lending and digital asset custody.
“This approval isn't just an expansion of our operation; it’s an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally. While we remain fully focused on our core markets in Brazil, Mexico, and Colombia, this step allows us to build the next generation of banking in the United States," says David Vélez, founder and CEO of Nu Holdings.
The US organization will be led by Nu's co-founder Cristina Junqueira, who has relocated to the US to spearhead the bank’s development and long-term growth. Roberto Campos Neto, former President of the Central Bank of Brazil, will serve as Chairman of the Board of Directors.
"Receiving federal approval for a national bank charter is a significant step in our journey to becoming a solid, compliant, and competitive regulated institution in the US," said Junqueira, CEO of the emerging US business. "We look forward to delivering the transparent, efficient financial experiences already trusted by more than 127 million customers around the world to our future customers in the US.”
Nu has now entered the bank organization phase, which involves satisfying specific OCC conditions alongside pending required approvals from the FDIC and the Federal Reserve. During this phase, the company will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months, as required by regulators. Nu submitted its application to the OCC on September 30, 2025.
This latest approval builds on Nu's history of adhering to rigorous regulatory standards across multiple jurisdictions. This commitment is reflected in its international operations: Nu’s subsidiary, Nu Mexico, received authorization to organize as a banking institution from the Comisión Nacional Bancaria y de Valores (CNBV) in April 2025 and awaits its final operational approval. In Brazil, Nu has operated as a fully regulated financial institution since 2016 and recently announced its intention to obtain a full banking license in 2026. Nubank has been publicly traded on the New York Stock Exchange since 2021 under the ticker symbol NU.
The US regulatory process is integral to the company's previously announced plan to establish strategic US hubs in Miami, the San Francisco Bay Area, Northern Virginia, and the North Carolina Research Triangle.
Nu's Journey
Founded in 2013 and headquartered in São Paulo, Nu has rapidly grown to become one of the world’s largest digital financial services platforms, serving over 127 million customers across Brazil, Mexico, and Colombia. In Brazil, Nu has solidified its position as the country's largest private financial institution by customer base.
As one of the fastest-growing and most profitable financial services companies globally, Nu maintains a high engagement level with an activity rate exceeding 83%. In Q3’25, presented a record revenue of $4.2 billion, a 39% growth year-over-year, at a holding level.
Nubank’s impact has been recognized by multiple awards, including Time 100 Most Influential Companies, Fast Company’s Most Innovative Companies, Latin Finance’s Digital Bank of the Year and Forbes World’s Best Banks.
Recognized as the Strongest Banking Brand in Brazil by Brand Finance and the Top Growing Banking Brand globally according to The Banker and Kantar, Nu is now scaling its influence globally. The company just announced a multi-year partnership as Official Team Partner of the Mercedes-AMG PETRONAS F1 Team starting with the 2026 season.
About Nu
Nu (NYSE:NU) is one of the largest digital financial services platforms in the world, serving more than 127 million customers across Brazil, Mexico, and Colombia. The company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu caters to customers’ complete financial journey, promoting financial access and advancement with responsible lending and transparency. The company is powered by an efficient and scalable business model that combines low cost to serve with growing returns.
For more information, please visit https://international.nubank.com.br/about/.
Nu worked closely with their advisors, Klaros Group, and counsel, Davis Polk & Wardwell LLP, in preparing the application.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260127041655/en/
press@nubank.com.br
Original: Nu Secures Approval to Establish US National Bank
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