Nu Holdings Ltd. announced that it will secure a full banking license in Brazil in 2026, a move required by the Central Bank’s Joint Resolution No. 17, which prohibits non‑bank entities from using the word “bank” in their branding. The company emphasized that the new charter will not alter its brand or visual identity and will not affect its capital or liquidity requirements.
Nu already holds all operational licenses needed to offer its current suite of products, including payment institution, credit, financing, investment, and securities brokerage licenses. The banking license will allow the company to accept deposits and issue loans under the Central Bank’s regulatory framework, potentially expanding its product mix and deepening its presence in the Brazilian market.
In its most recent earnings release, Nu reported record revenue of $4.2 billion for Q3 2025, a 39% year‑over‑year increase on a foreign‑exchange‑neutral basis, and net income of $783 million, up 39% from the same period last year. The company’s customer base grew to 127 million globally, adding 4.3 million net customers in the quarter. These results demonstrate strong demand for Nu’s digital banking services and provide a solid financial foundation for the upcoming banking license.
Management highlighted that the banking charter will enable Nu to leverage its existing customer base and digital platform to offer deposit products and loan services, further integrating its ecosystem. CEO David Vélez said, “The new license will allow us to deepen our relationship with customers by offering a full suite of banking services while preserving the simplicity and transparency that define our brand.”
Analysts noted that the regulatory change is a strategic milestone that could enhance Nu’s competitive position in Brazil, where it already holds a significant market share. The company’s robust financial performance and disciplined cost structure suggest it is well positioned to meet the additional regulatory requirements without compromising its growth trajectory.
The announcement is expected to reinforce investor confidence in Nu’s long‑term strategy, as the company continues to expand its product offerings and strengthen its market presence in Latin America. The banking license is a key step toward solidifying Nu’s status as a leading digital financial services platform in the region.
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