Nubank Profit Hits Record US$1.1 Billion

Brazil's central bank approved Nubank's purchase of Banco Porto Real, granting it a banking license. Nubank (NU) expects to complete the deal soon, allowing it to use 'bank' in its name. The tiny bank had $5.7M in assets. Nubank's shares rose 11.8% Friday, closing at $13.22.

Nu Holdings (NU) surged 11.75% to $13.21 after reporting record Q3 earnings, despite missing estimates. Trading volume was 143.2M shares, 74% above average. The company highlighted growth plans, including U.S. expansion. S&P 500 and Nasdaq fell 0.41% and 0.90%, respectively.

Nu Holdings (NYSE:NU) stock rose 7.72% to $12.70 after reporting a record quarterly profit of $1.1 billion, a 31% increase. The company added 3.7 million customers, bringing the total to 143 million, and revenue increased 37% to $6.3 billion. However, the 90-day non-performing loan ratio rose to 7.3%. The company expects an efficiency ratio of 19-19.5% by 2026, better than previously forecast.

Nu Holdings (NU) shares rose 11% after reporting record Q3 net income of $1.1B, up 31% FX-neutral. CEO David Vélez noted initial steps beyond Latin America. Loans grew 33% YoY to $41.6B, outpacing competitors. ROE was 32%, with NPL ratio at 7.3%. The stock traded at 4.4x tangible book value, half its 3-year average.

Nu Holdings Ltd (NU) reported Q3 2026 earnings with record net income of $1.1B (up 31% YoY) and gross revenue of $6.3B (up 37% YoY). Customer base grew to 143M, with credit portfolio up 33% YoY. However, 90+ day delinquency rose to 7.3%, and risk-adjusted NIM declined to 12.1%. Management discussed credit growth, M&A appetite, and macroeconomic challenges in Brazil.

Nu Holdings (NYSE:NU) reported Q3 net income of $1.09B, up 31%, and revenue of $6.26B, up 37%. Its credit portfolio grew 33% to $41.6B, but delinquency ratios increased slightly. The company raised its 2026 efficiency ratio target to 19-19.5%.