NEW YORK, March 23, 2026, 15:23 EDT
Nu Holdings climbed almost 6% Monday, with shares trading near $14.78 after reaching as high as $14.915 earlier. Trading volume spiked close to 60 million shares—a notable surge for the Brazilian digital bank.
Nu shares recovered some ground after the late-February earnings-driven slide, as global markets showed signs of stabilization. Wall Street turned higher following U.S. President Donald Trump’s announcement that strikes on Iranian energy assets were on hold. Oil prices tumbled, taking some heat off growth stocks and riskier plays.
This wasn’t just about Nu. StoneCo shares jumped 5.8%, PagSeguro picked up 6.7%, and Itaú Unibanco’s U.S. stock added 4.3%. The gains suggest a wider appetite for Brazilian financials, not simply a company-specific catalyst.
Growth remains in Nu’s corner. The February 25 filing showed the company posting fourth-quarter revenue of $4.857 billion and net income near $895 million. Customer count hit 131 million. Total portfolio? $32.7 billion, up 40% year over year.
Even with the headline numbers, the argument isn’t over. Nu shares slid 5.5% after hours on those results. JPMorgan flagged the profit beat as tax-driven. Citi’s take: cost of risk and operating expenses “mud the picture,” despite decent operational momentum. Reuters
Eyes remain on the U.S. for Nu. Back in January, the company announced it had secured conditional approval from the Office of the Comptroller of the Currency to set up a national bank stateside. That charter isn’t set in stone yet—it hinges on fulfilling pre-opening requirements and clearing hurdles with the Federal Reserve and FDIC. CEO David Vélez pitched this as an opportunity to showcase a “digital-first, customer-centric model.” For co-founder Cristina Junqueira, the green light marked a “significant step.” SEC
Mexico is still a big piece of the puzzle, but building there isn’t cheap. Back in January, Reuters said Nubank’s partnership with FEMSA’s Oxxo chain would let more than 9 million people tap into 22,000-plus stores. Citi analyst Gustavo Schroden called the move “positive,” though he flagged it as “likely costly”—the tie-up helps narrow the cash-access gap versus older banks. Reuters
Trading could stay unsettled. “Buys time,” is how DWS’s David Bianco summed up the Iran reprieve, warning that Monday’s bounce in growth stocks might vanish just as quickly if oil and rate jitters resurface. Reuters
