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Company > Nubank is now 5th largest in Brazil

Nubank is now 5th largest in Brazil

According to Central Bank data, the company surpassed an incumbent this year in number of customers, while leading with lowest rate of complaints

São Paulo, October 21, 2022 – Nubank is officially the 5th biggest financial institution in the country, according to numbers registered by the Brazilian Central Bank. Growing its customer base to over 64.8 million customers in Brazil close to the end of Q3, Nubank has gone from the 6th position to surpassing traditional banks to reach the top 5. Among fintechs, the Company ranks first. 

Financial institutionQ3’22 Number of customers (in MM)
Banco do Brasil73.5
Santander Brasil60.9
Source: Brazilian Central Bank

The data is included in a report that also ranks Nubank as the leading institution with the lowest complaint rate – which takes into account the number of valid complaints registered during the third quarter of 2022 and the number of clients. This reinforces the Company’s commitment to offering its customers unparalleled service.

Earlier this week, Nubank was also awarded for the 5th time Prêmio Respeito, being considered the company that, among neobanks, respected customers the most in 2022. The award by Grupo Padrão recognizes extraordinary companies that put empathy with the client as a top priority.

Fast expansion 

Customer loyalty also contributes to Nubank’s fast-growing engagement in its wide product portfolio. This Thursday (20), the company announced that it will bring clients from NuCommunity into the creation of Nucoin – a proprietary cryptocurrency developed in partnership with Polygon Technology, the Ethereum scaling blockchain that enhances the functionality of Ethereum while retaining the base layer’s security and decentralization. Nucoin will be part of the strategy to power customer loyalty by offering rewards.

The launch comes after the success of Nubank Cripto, which allows the purchase, maintenance, and sale of Bitcoin and Ethereum through Nubank’s app. The experience has been available to all Brazilian customers since the end of July, with more than 1.8 million having made at least one cryptocurrency purchase since.

For media inquiries, please reach out to press@nubank.com.br and events@nubank.com.br.

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