Nubank earns US$1.09 billion in the quarter, beating market expectations

Nubank, Latin America's largest digital bank, reported on Thursday net income of US$1.09 billion in the third quarter of 2026, 31% more than in the same period last year and above the US$1.07 billion expected on average by analysts surveyed by Bloomberg.

The result was driven by credit growth in Brazil and the rest of the region. The company's loan portfolio reached US$41.6 billion, 33% more than a year ago, according to the statement published Thursday by Nu Holdings, Nubank's parent company.

The fintech ended the quarter with 142.6 million customers, 12% more than a year earlier. Its efficiency ratio, which measures how well it manages expenses to generate income, improved to 19.3%, from 19.5% in June, and the company now expects to keep it between 19% and 19.5% in 2026.

Operating expenses rose to about US$846 million, from US$577 million in the same quarter of 2025, amid expansion into new markets. The company's shares had come under pressure in recent sessions because of political uncertainty in Brazil.

Photo: Bloomberg Línea

Source: Bloomberg Línea