Nu Holdings reports $1.1 billion quarterly profit and enters U.S. market

Nu Holdings, a digital banking leader in Latin America, reported a milestone second-quarter net income of $1.1 billion. This represents a 49% year-over-year increase on a currency-neutral basis, with gross revenue rising 39% to nearly $5.9 billion.

The company maintains a massive customer base exceeding 140 million people across Brazil, Mexico, and Colombia. Its unit economics show an average monthly service cost of $1 per customer against approximately $17 in monthly revenue per active user. In Brazil, monthly active usage reached over 86%.

Expanding its global footprint, Nu Holdings has begun launching limited offerings in the United States through a partnership with Missouri-based Lead Bank. This move follows conditional approval from the Office of the Comptroller of the Currency for a national bank charter, which is expected in 2027.