Joint announcement – Nubank joins Febraban as an associate member

São Paulo, March, 16 – Following a favorable recommendation from board member Milton Maluhy Filho, the Febraban Board of Directors, at its first regular meeting in 2026, unanimously approved Nubank’s membership request, making the company part of the Federation’s group of associates.

Febraban CEO Isaac Sidney said, “Nubank’s initiative is very welcome, as it shows the institution’s interest in actively taking part in the industry’s forums for dialogue and institutional coordination. At the same time, it highlights Febraban’s own commitment to plurality, high-quality debate, and the joint development of sector-wide solutions in a representative and diverse environment.”

In the same vein, Livia Chanes, Nubank’s CEO for Brazil, emphasized the importance of the institutional partnership with Febraban, stating, “By bringing our track record of innovation, financial inclusion, and customer focus to this forum as well, we strengthen our contribution to the resilience of the financial system, while remaining committed to reducing industry complexity and simplifying our customers’ lives.”

As part of this closer relationship, Nubank will now take part in Febraban’s main decision-making bodies, expanding its participation in the Federation’s strategic discussions on institutional matters.

Why Nubank sought membership

Nubank’s decision to join Febraban is aligned with its ongoing plan to obtain a full banking license. The company is currently the largest private financial institution in Brazil in terms of customers.

Joining Febraban broadens and strengthens Nubank’s institutional engagement. The company will continue to participate actively in other industry associations, such as Zetta, ABBC, and ANBIMA, contributing to agendas that promote competitiveness, innovation, and sustainability in the financial system.

Founded 12 years ago, Nubank has become one of the largest digital financial services platforms in the world, with 131 million customers. In 2025, the company reported US$16.3 billion in revenue and US$2.9 billion in net income, underscoring the strength of a fully digital business model built on technology and operational efficiency.

In Brazil, Nubank serves 113 million customers, reaching more than 60% of the adult population, and has brought 29 million people into the financial system in recent years. Even with the rapid expansion of its customer base, the institution maintains one of the lowest complaint rates in the industry, according to the Central Bank of Brazil’s ranking.

Why Febraban is welcoming its new member

Febraban’s decision to welcome Nubank as a member is aligned with its longstanding commitment to embracing a plurality of perspectives within Brazil’s financial industry and to fostering qualified dialogue among institutions that operate under different business models.

By bringing new players into its membership base, Febraban enhances the representativeness of the banking sector and strengthens its ability to reflect the diversity of viewpoints, experiences, and trajectories that shape the national financial system.

With this step, Febraban reaffirms its historic commitment to safeguarding the integrity, resilience, and fairness of the financial system — values that are essential for maintaining the sector’s stability, credibility, and public trust.

By bringing together institutions that share these principles, Febraban reinforces its mission to jointly promote a financial system that is solid, ethical, and equipped to respond responsibly to economic, regulatory, and social challenges.