Monthly Newsletter Archive
Check the previous issues of Nu Headlines, our monthly newsletter containing Nubank's latest news, covering corporate announcements, awards, recent launches, and news articles, among others. Click here to subscribe.
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$10. The record results reflect the company’s strong and continued growth in customer base, engagement, and monetization while keeping an efficient, low-cost operating platform. In this issue of our corporate newsletter, you’ll read more about our financial results, as well as an increase in the annual yield of Cajitas in Mexico (now at 15%), and more.
Nu Mexico applies for banking license, IFC increases loan to Nu Colombia, partnership boosts careers in technology
Nu Mexico applied for a local banking license, reinforcing its long-term growth strategy to unlock a broader portfolio for customer needs in Mexico, including investments, payroll portability, and products for SMEs. Also in this issue: the IFC upsizes its loan to Nu Colombia after growing interest from commercial banks; Nu partners with federal universities in Brazil to accelerate careers in tech and foster innovation; information and technology help prevent fraud against Nu customers.
NuHeadlines special issue: S&P assigns Nu BB- international rating; IFC increases loan to Nu Colombia
This is a special edition of our corporate newsletter to inform our readers that S&P assigned Nu Financeira and Nu Holdings a BB- international rating. The rating agency highlighted Nu’s strong growth and improving efficiency rate. Also in this issue: the IFC loan to Nu Colombia was increased to US$ 265.1 million, reaffirming confidence in Nu's growth and potential in the country.
Secured loans expansion in Brazil, personal lending launch in Mexico, highest primary banking relationship rate
Nu is amplifying its credit portfolio with new options in Brazil and Mexico. Workers in Brazil now have a new alternative of secured credit, and customers in Mexico will be able to contract personal loans at Nu, a new addition to our growing product platform in the country. Also in this issue: Nu holds the highest principality rate among Brazilian financial institutions according to J.P. Morgan, the under-18 account gains a new feature for parental control, Money Boxes reach 8.6 million active customers one year after launch, and more.
Q2’23 Financial Results, customer service excellence recognition, enhanced experience for credit lines
Nubank published its Financial Results for the second quarter of 2023 this week. The company posted record net income at the holding level, of US$225 million, an increase of over 50% in just one quarter. The consistent improvement in operational leverage is clear across multiple metrics, including ARPAC (monthly average revenue per active customer), which surpassed US$9 – this indicator reaches US$24 in more mature cohorts. In number of customers, Nu is now the fourth-largest financial institution in Brazil according to the Central Bank, serving one in every two adults in the country, and reached 85 million people and SMEs across Latin America in July. In this issue of our corporate newsletter, you will read more about the results, as well as recent recognition for customer service excellence, the launch of an enhanced experience for credit lines in the app, and more.
S&P upgrades Nubank’s rating, new insurance products, collateralized loan option
S&P upgraded Nubank Brazil’s rating to brAA+ with a stable outlook. The key factors mentioned for the decision were the increase in financial margins and operational efficiency, and the stabilization of the company’s asset quality despite market deterioration. Also featured in this issue of our corporate newsletter: Nu grows its insurance portfolio and diversifies options to collateralize loans, among other news.
Nu Mexico reaches 1MM digital accounts in one month, new security channels in Brazil, partnership with Uber
Cuenta Nu, the digital account by Nu Mexico, reached 1 million users one month after its official public launch. The fast adoption of the product is a statement of Nubank’s successful scalability strategy, leveraging technology and learnings globally and applying them to local markets. In this issue of our monthly corporate newsletter, you will read more about the company’s international expansion plans. Also featured: new security channels, a partnership with Uber, and more.
Q1’23 Financial Results, Nu’s 10th anniversary, Cuenta launch in Mexico
Nu turned 10 years old this month and released record financial results, combining scaled growth and profitability, as well as strong and sustainable fundamentals for the future. The company posted record net income of $142 million for Q1’2023, and nearly doubled its quarterly revenues in just one year. As of today, the customer base is 80 million. The company is one of the most efficient players in Latin America, has an exceptional capital position, and continues to achieve record results across multiple metrics.
Credit underwriting strategy, new features of Cuenta Nu in Mexico, personalized recommendations to empower customers
Nubank is now testing NuConsignado among its public servants' customer base. The much-anticipated product is a type of loan settled directly and automatically from the payroll. In this issue of our newsletter, you will read more about the launch and get a deep dive into our credit underwriting strategy. Also featured: Nu Mexico turns four and announces Money Boxes (Cajitas) in the buildup to the roll-out of Cuenta Nu, a Financial Inclusion study in Brazil, Personalized recommendations in the app to further empower customers, Nubank is once again one of the World’s Best Banks according to Forbes, and more.
Recognition for innovation and corporate reputation, new Board member announced, accessibility with NuBraille
Nubank’s innovation and reputation were once again recognized by two prestigious rankings – Fast Company’s World’s Most Innovative Companies for 2023, and Merco Companies and Leaders Brazil, respectively. In this issue, you will read about the company’s plans to keep delivering groundbreaking products and services while it further scales its multi-country, multi-product, and multi-segment strategy. Also featured: the appointment of David Marcus to the Board of Directors, a lower interest rate in Colombia, the launch of NuBraille, and more.
Q4 and full year 2022 Financial Results, lending growth, added safety for customers in Carnaval
Nu reported its financial results for Q4’22 and full year 2022, posting Net Income at a holding level for the second consecutive quarter, excluding the one-time non-cash effect of the CSA termination announced last November. Also featured: Nu is now the third largest lender in Brazil, an extra layer of safety for our customers ahead of Carnaval, new investment options, among other topics.
Nubank’s year ahead, IFC loan for Nu Colombia, new Open Finance feature
Nu started the year strong and well-capitalized, as the sixth largest financial institution in Latin America by number of active customers while growing profitability, and now aims further. In this issue, you will read about our vision for 2023 and beyond; how our Colombia operation has just been boosted with a loan from the IFC; a feature that allows customers to view their balances from other banks inside Nu’s app, and other news.
Nubank’s 2022 in review, Cuenta and debit card in Mexico, Open Finance milestone, Pix record
In this issue, we put 2022 in review: a challenging year for the entire industry, which Nu tackled successfully while delivering growth and profitability, innovating, and reinforcing our leadership. Also featured: Our product expansion and further capitalization in Mexico, a record in Pix, and more.
Q3’22 Financial Results, Nucoin and other launches, FIFA World Cup support, awards
Nubank reported a Net Profit of US$7.8 million at a holding level, with revenues reaching a record of US$1.3 billion. With solid Q3’22 results, the company continues to demonstrate its capacity to grow efficiently while keeping a low-cost tech platform and a widening profit margin. In this edition of our newsletter, you will also read about our Nucoin token, a new office space in Sao Paulo, and multiple awards and recognitions.
70MM customers, innovations in safety, launches for SMEs and Investments’ customers
Nubank now has more than 70MM customers across its three operations in Latin America, having recently reached milestones across its product portfolio. In this issue, we also bring innovation to safety with the development of Modo Rua and third-party research showing that Nu’s focus on security is recognized by customers. Additionally, two hiring programs, and launches for our SMEs and investor customers, among other updates.
Customer relationship program, security hub, new senior executives
In this issue, you will read about Nunos, our customer relationship program that offers rewards; SOS Nu, the security hub for customers to learn how to take precautions and act in cases of scams, thefts and fraud; the arrival of Alex Ceballos and Adrian Cockcroft; and more.
Q2’22 Financial Results, Board updates, Nu Colombia’s new license
Nu Q2’22 Earnings Release – a quarter of growth, efficiency, and significant progress towards building the largest digital platform in Latin America. In this issue, you will also read about our new Operating Model, Thuan Pham being appointed to our Board of Directors, our latest product launches, and more.
Money Boxes, crypto, TIME 100, interviews with David Vélez
On our first issue, learn all about the launch of “Money Boxes”, a feature for customers to easily categorize and invest their digital account balances and savings, recognitions by TIME 100, Forbes, and many others, as well as some highlights of interviews in the press with our founder & CEO David Vélez.