Nubank Delivers $637M Q2 Profit, Beats Expectations
Hey Digital Banking Fanatic!
Nubank just crushed its Q2 numbers, posting a 42% jump in net profit to $637M, sending shares up over 8% in after-hours trading. Revenue hit $3.7B, up 40% YoY, driven by operational leverage and a shift in strategy: the next wave of growth in Brazil will come from deepening relationships with existing customers rather than just adding new ones.
With nearly 123M clients across Brazil, Colombia, and Mexico, the digital lender’s loan book grew 8% to $27.3B, early defaults improved to 4.4%, and ROE stayed strong at 28%. Citi called it a “strong quarter”, and from the looks of it, everything’s still super on track.
Have a great start to the week, and I'll be back with more Digital Banking industry updates tomorrow!
Cheers,
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NEWS
🇧🇷 Brazilian digital lender Nubank posts 42% profit boost. The firm, which has nearly 123 million clients across Brazil, its main market, Colombia, and Mexico, posted a $637 million second-quarter net profit for the April to June period. Revenue stood at $3.7 billion, up 40% year-on-year.
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