Nu Holdings Ltd. Reports Third Quarter 2023 Financial Results
"We are achieving strong levels of profitability while keeping asset quality in line with expectations and continuing to invest in product portfolio and geo expansion”, said David Vélez, founder and CEO of Nubank
90 million customers in Brazil, Mexico, and Colombia.
One of the largest digital financial services platforms worldwide.
Fifth-largest financial institution in Latin America by number of customers.
Primary banking relationship for 59% of the monthly active customers that have been with Nu for over a year.
Activity rate: 82.8%.
Latest milestones in Brazil:
Investments active customers: 12 million
Active insurance policies: 1 million
Nucoin active customers: 10.5 million
23% of Pix transactions go through Nu
Net income of US$303 million in Q3’23.
Revenues of US$2.1 billion in Q3’23.
We provided over 5MM people with their first credit card or account.
Q3’23 Financial Results, increase in yield for Cajitas Mexico, new benefits for Ultravioleta
Nu posted US$2.1 billion in revenues in Q3’23, resulting in US$303 million net income and US$356 million adjusted net income, with ARPAC reaching US$10. The record results reflect the company’s strong and continued growth in customer base, engagement, and monetization while keeping an efficient, low-cost operating platform. In this issue of our corporate newsletter, you’ll read more about our financial results, as well as an increase in the annual yield of Cajitas in Mexico (now at 15%), and more.
Partnership with Circle lists digital dollar USDC in its first phase
Nubank Cripto integrates Talos’s Smart Order Routing system to reduce trading costs
Customers can now transfer personal credit card limit to their SME account
Ten cryptocurrency options are added to the app in less than 1 year
Alô Protegido: new call-blocking feature protects customers from scams
Nu is recognized as the most admired company in the field of Product in Brazil
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