LatinFinance Awards Nubank Top Regional Honor for Financial Excellence

São Paulo, October 31, 2025 – Nubank, one of the world’s largest digital financial services platforms, today announced it has been named “Bank of the Year” by leading industry publication, LatinFinance. The top award recognizes Nubank’s unprecedented combination of scale, record-breaking profitability, and best-in-class efficiency across Latin America and the Caribbean. The “Bank of the Year” distinction marks the fifth recognition to date from LatinFinance for Nubank, following four prior wins for Digital Bank of the Year, and now establishing the platform as not just the digital leader, but the overall leader – ahead of both traditional incumbents and digital peers across the region.

LatinFinance determined its decision by evaluating quantitative financial data alongside qualitative market assessments, highlighting several key performance indicators and strategic achievements for the eligibility period. The award specifically cited Nubank’s innovation initiatives and strategic execution, which was fueled by an accelerating customer base and operational discipline. LatinFinance judges further underscored Nubank’s ability to present a clear and compelling narrative of continuous growth and market disruption, which was validated by strong market opinion from analysts and investors.

Key Highlights for the Award Period

• Customer Growth and Scale: Nubank expanded its total customer base to nearly 123 million, adding over 4 million net customers in a single quarter, demonstrating unmatched platform scalability across Brazil, Mexico, and Colombia.
• Profitability at Scale: The company achieved record financial results, including a quarterly net income of $637 million and an annualized Return on Equity (ROE) of 28% – a rate that is well above most industry peers in the region.
• Market-Leading Efficiency: Nubank reinforced its position as one of the most cost-efficient financial institutions globally, significantly lowering its efficiency ratio to 28.3% while maintaining a monthly Average Cost to Serve Per Active Customer at less than $0.80.

Commitment to Sustainable Finance and Banking

In addition to financial dominance, LatinFinance’s decision was informed by a detailed review of Nubank’s overall approach to sustainable finance and banking practices. The award recognizes the company’s profound commitment to financial inclusion and its efforts to integrate environmental, social, and governance factors into its core strategy. This is evidenced by its direct impact on underserved populations: according to recent company data, approximately 29 million customers gained access to their first-ever credit card through Nu. This holistic view of success – blending financial strength with societal impact – was a deciding factor.

About the LatinFinance Awards

LatinFinance, a leading source of intelligence on the financial markets and economies of Latin America and the Caribbean, has a long history of chronicling developments in the region’s financial markets. The Banks of the Year Awards celebrate the financial institutions that best demonstrated excellence in retail, commercial, and investment services. This year’s awards are based upon published results during the eligibility period of July 1, 2024, through June 30, 2025. Winners are selected by LatinFinance’s editorial staff following an exhaustive selection process, including the review of official financial data, analyst research, and confidential market opinions.