Nu Holdings shares rise as Nubank faces key credit test
Nu Holdings shares rose 2.3% to $12.58 in New York on Wednesday, recouping losses after last week’s earnings. Nubank reported first-quarter revenue above $5 billion and net income of $871 million, but credit loss allowances jumped 33% to $1.79 billion. Early-stage non-performing loans reached 5.0%. The company’s customer base topped 135 million by March.