Nu Holdings Third Quarter Gross Revenue Reaches Record 6.3 Billion Dollars, Up 37 Percent, With Net Income of 1.1 Billion Up 31 Percent and 143 Million Customers
In São Paulo, Brazil, Nu Holdings released on November 12 its financial results for the third quarter ended September 30, 2026. Gross revenue reached a record 6.3 billion dollars, up 37 percent year over year. Gross profit rose 35 percent to 2.6 billion, and net income reached a record 1.1 billion, up 31 percent, with return on equity of 32 percent. The company said growth rates are on an FX neutral basis unless otherwise noted. Founder and Chief Executive Officer David Vélez said in the release that the company kept growing across its core markets while taking its first steps beyond Latin America.
On customers, Nu added 3.7 million customers in the quarter, reaching 143 million globally: nearly 120 million in Brazil, 16.6 million in Mexico and 6.1 million in Colombia. The activity rate rose to 83.6 percent, and monthly average revenue per active customer reached approximately 18 dollars. Vélez said Nu already serves 65 percent of adults in Brazil, where the activity rate rose for the seventh consecutive quarter to a record 86.3 percent.
The credit portfolio grew 33 percent year over year and 6 percent quarter over quarter to 41.6 billion dollars, including credit cards of 27.2 billion, unsecured lending of 11.0 billion and secured lending of 3.4 billion. Deposits rose 19 percent to 47.5 billion, with 38.6 billion in Brazil, 5.3 billion in Mexico and 3.5 billion in Colombia. Net interest income was 3.9 billion, with a net interest margin of 22.5 percent.
On asset quality, the 15 to 90 day non-performing loan ratio was 4.9 percent, compared with 4.8 percent in the second quarter, and the 90-plus day ratio rose to 7.3 percent from 6.9 percent. Coverage of 90-plus day non-performing loans was 234 percent. The efficiency ratio was 19.3 percent, compared with 19.5 percent in the second quarter and 20.3 percent a year earlier, and Nu now expects a full-year efficiency ratio of 19 percent to 19.5 percent, below its previous expectation of around 20 percent.
Nu US launched on September 10 and within weeks reached customers in all 50 states. Nu Global went live on October 15 and has customers in 37 countries. In its first quarter as a bank, Mexico added 870 thousand customers, and deposit insurance coverage rose sixteenfold to approximately 195 thousand dollars per customer. Colombia customers grew 62 percent to 6.1 million, with 3 million cardholders, and Nu said it is now the country largest credit card issuer by number of cardholders.
Source: Nu Holdings
Published by GSM · USA (original Chinese edition)
Photo: 图：Nu 控股创始人兼首席执行官 David Vélez。作者：Sam Barnes / Web Summit Rio，CC BY 2.0，维基共享资源。 / Photo: Nu Holdings founder and CEO David Vélez. Credit: Sam Barnes / Web Summit Rio, CC BY 2.0, via Wikimedia Commons.
