São Paulo, March 16, 2026, 18:07 BRT
Nu Holdings climbed roughly 2.6% Monday, trading up after Nubank signed on with Febraban—Brazil’s top banking federation—tightening its ties with the nation’s financial mainstream. Shares on the NYSE settled at about $14.27.
The timing is key here: Nubank says joining up aligns with its goal to secure a full banking license in Brazil. Landing a spot in Febraban’s top decision-making circles means the digital lender gets more say as it advances toward a deeper banking presence at home.
Among the federation’s members: heavyweights like Itaú Unibanco, Bradesco, and Santander Brasil. For Nu—whose rise hinged on challenging the old-guard banks’ fees and hassle—that’s a sharp pivot.
Febraban CEO Isaac Sidney described Nubank’s entry as “very welcome.” On Nubank’s side, Livia Chanes—who heads the digital bank’s Brazil operation—said the group plans to contribute its track record in innovation, financial inclusion and a customer-first approach to the forum, with an eye on keeping banking simple for its users. Nu International
Monday delivered a boost in the U.S. market, with the Nasdaq advancing 1.22%. Nu shares have seesawed since late-February’s earnings report—shares dropped 5.5% after hours, even as the company posted a 50% surge in fourth-quarter net profit. Analysts zeroed in on rising costs.
Nu wrapped up 2025 counting 131 million customers, pulling in $4.9 billion in revenue for the fourth quarter and $2.9 billion in net income across the full year. CEO David Vélez emphasized that the company is “fully focused on winning in Latin America,” despite ongoing ambitions to develop a global digital banking platform. Nu International
Guilherme Lago, the chief financial officer, pointed to a jump in profit driven by growth in customer numbers, rising ARPAC, and steady serving costs. “Positive leverage to revenue,” he said in an interview with Reuters. Reuters
Nu is claiming over 112 million customers in Brazil, making it the country’s biggest private financial institution by headcount. The company is also stepping outside Latin America: in January, it secured conditional approval in the U.S. to set up a national bank.
The straightforward gains are behind it. Nu flagged that spending on its platform and expansion abroad may weigh on its efficiency ratio—costs as a share of revenue—in the near term. Its U.S. banking effort still lacks green lights from the FDIC and Federal Reserve, and pursuing a Brazil banking license brings yet more execution risk into play.
