Nubank acquires Banco Porto Real to secure Brazil bank licence

Nubank announced on 20 July 2026 that it will purchase 100 % of Banco Porto Real de Investimentos, a small Rio de Janeiro‑based bank founded in 1992 with roughly R$ 32 million in assets. The deal is intended to obtain a full banking licence required by Joint Resolution No. 17 issued by Brazil’s Central Bank and the National Monetary Council, which bars firms from using the term “bank” without such a licence.

The acquisition is still subject to Central Bank approval but will not change the fintech’s 115 million Brazilian customers, its app, products, branding or service model. Nubank already operates as an institution of payment, a credit‑financing company and a securities broker; the new licence will simply be added to this portfolio without extra capital or liquidity requirements. The move aligns with Nubank’s broader expansion plan, including a R$ 45 billion investment programme in Brazil.

David Vélez, founder and global CEO, said the acquisition ensures compliance with the new naming rules while preserving Nubank’s “innovation DNA”.