Nu Mexico receives banking license, customers keep existing terms

Nu México was granted authorization by the Comisión Nacional Bancaria y de Valores (CNBV) on 10 July 2026 to operate as a full‑service bank, completing a transformation that began in October 2023. The approval makes Nu the first Sofipo to become a multiple‑bank institution.

The company said its 15 million customers will see no changes to the app, card, rates or product terms, and that all digitally signed contracts remain legally valid. New banking capabilities will include unlimited account operations, higher IPAB insurance coverage, and the ability to offer payroll portability, checking accounts, mortgage loans and SME financing. Nu reported a portfolio of 33 billion pesos and deposits of $5.9 billion at the end of March 2026, and announced it reached financial break‑even in Q1 2026. Founder David Vélez reaffirmed a planned $4.2 billion investment in Mexico through 2030.