SAO PAULO, Feb 25 (Reuters) – Nu Holdings, the listed entity which runs Brazilian digital lender Nubank, on Wednesday posted a 50% increase in its fourth-quarter net profit from the same period of 2024, to $894.8 million.
The lender, which has 131 million customers in Brazil, Mexico and Colombia and has been laying the ground for an entrance to the U.S. market , said its total revenue increased 45% in the October-to-December quarter, to $4.86 billion.
Chief Financial Officer Guilherme Lago told Reuters the profit increase was driven by higher amount of customers, an increase in the revenue per active customer and a stable cost to serve customers.
“This brings positive leverage to revenue,” Lago said.
Return on equity (ROE), a gauge of profitability, came in at 33% in Q4 compared to 29% a year earlier.
Nubank expanded its total loan portfolio by 40%, to $32.7 billion, while its over-90-day delinquency rate stood at 6.6%, a 0.1 percentage point decline.
(Reporting by Andre Romani, Editing by Natalia Siniawski)
Comments