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Nu Holdings Ltd. Reports Second Quarter 2026 Financial Results
SÃO PAULO, August 13, 2026–(BUSINESS WIRE)–Nu Holdings Ltd. (NYSE: NU) (“Nu” or the “Company”), the largest digital bank in Latin America, today released its financial results for the second quarter ended June 30, 2026, prepared in accordance with IFRS, as well as complementary managerial results. The financial statements and earnings presentation are available on the Company’s Investor Relations website at www.investors.nu, along with details of the earnings conference call to be held today at 6:00 p.m. Eastern Time / 7:00 p.m. Brasília time.
“Thirteen years ago we started with a simple hypothesis: that a bank built on technology, with no branches and no legacy to defend, could serve hundreds of millions of people better, and at a fraction of the cost. This is no longer a hypothesis, and we are now generating more than a billion dollars in quarterly net income. Earlier this month, we launched our bank in Mexico, becoming the largest digital bank in the country with 16 million customers. That completes our transformation there, unlocking capabilities we did not have before. In Brazil, we are evolving our structure, adding a full banking license to our operations. We also launched Croma for our Super Core customers, taking the same primary banking playbook upmarket into an even larger profit pool. Underpinning all of it, NuFormer, our foundation model for financial behavior, now powers underwriting, customer service, and growth decisions across the company,” says David Vélez, founder and global CEO of Nubank.
Q2’26 Results Snapshot
Below are the Q2’26 performance highlights of Nu Holdings Ltd. Unless otherwise noted, all the growth rates presented herein are on an FX neutral basis (FXN)1:
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Customer growth – Nu added approximately 4 million customers in Q2’26, reaching a total of 139 million customers globally. In Brazil, Nu reached almost 118 million customers. In Mexico, Nu reached 15.8 million customers (and 16 million as of July, 2026), and in Colombia, Nu surpassed 5 million customers, continuing its steady pace of net additions.
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Engagement and activity rates –ARPAC reached approximately $17 in Q2’26, growing sequentially quarter-over-quarter (QoQ) once again. Monthly activity rate expanded sequentially to 83.5%, with Brazil surpassing 86% for the first time.
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Efficiency Ratio – Efficiency Ratio increased to 19.5% in Q2’26 from 17.6% in Q1’26 (21.3% in Q2’25), as real estate and marketing expenses shifted from the first quarter into the second, alongside our continued investments in international expansion.
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Asset Quality – Leading indicator 15-90 NPL ratio improved 16 bps to 4.8% in Q2’26, with the majority of the improvement coming from seasonality, partially offset by intentional expansions into higher-risk, higher-return segments. Product mix and other minor effects were broadly neutral. 90+ NPLs increased 35 bps to 6.9%, largely reflecting the seasonal migration of first-quarter early delinquencies.
