Nubank is awarded Digital Bank of the Year by LatinFinance
The publication highlighted Nu’s above-expected results, with continuous growth in the customer base and record profits largely due to a strong credit portfolio
Nov 6 , 2023
São Paulo, November 6, 2023 – Nubank, one of the world’s largest digital financial services platforms, has just been named Digital Bank of the Year at the LatinFinance Banks of the Year awards.
This is the third time Nu has received this recognition, having also won in the same category in 2021 and 2019. According to LatinFinance, a publication focused on the financial markets and economies of Latin America and the Caribbean, after a challenging 2022, Nu presented surprising results in 2023, thanks to a strong credit portfolio.
This year, the company expanded its credit options, also debuting in the payroll loan segment with products for public workers and pensioners who are beneficiaries of the INSS (National Institute of Social Security).
“It is always an honor to see the impact of the work of thousands of Nubankers recognized in awards like this one. In 2023 we achieved record results and further diversified our portfolio in Brazil, focusing on credit, high income, and international expansio. Our focus has always been on the long-term, prioritizing our customers’ best interests. By combining this clear objective with an efficient operation at a lower cost, we have been achieving increasingly better results to expand even further,” said David Vélez, founder and CEO.
The publication highlights that Nubank consistently exceeded market expectations in 2023, registering record profits and continuous growth (most recently, US$ 225 million in net income, in Q2’23). Furthermore, LatinFinance reinforces that Nubank customers surprised the market by adding an average of 1.5 million new clients monthly, reaching the fourth position among the country’s largest financial institutions. In Latin America, the number of customers reached 85 million, with an annual increase of 18%. The company recently reached the milestone of 90 million customers in Brazil, Mexico, and Colombia.
Also this Monday (6), Nubank was featured in the Caliber Ranking from Meio & Mensagem, which considers attributes of Reputation and Brand. The company jumped to the seventh position in the overall ranking and maintained the first position in the Financial category. This ascent places Nu ahead of renowned companies such as Samsung, Mercado Livre, and Coca-Cola, reinforcing the consolidation of the brand’s reputation in the Brazilian market.
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