Nubank dominates Brazil's banking preference, reaches 31.5 million users

A recent NPS Prism survey shows Nubank has become the leading financial institution for Brazilian consumers, preferred in 17 of 27 states and serving about 31.5 million adults – roughly 20 % of the country’s adult population. The fintech’s strongest foothold is in the North and Northeast, where one‑third of residents choose it as their primary bank, especially in municipalities without traditional branches. Credit extended by Nubank accounts for up to 6.8 % of regional GDP in the Northeast, and customers have collectively saved an estimated R$ 134.7 billion in avoided fees.

Analyst projections for the upcoming Q2 earnings season highlight Bradesco as the likely top performer among Brazil’s major banks, with an expected net profit of R$ 7.1 billion. Banco do Brasil is forecast to post a weaker result, while Nubank is expected to regain investor confidence through a 37 % growth in its credit portfolio and a projected net profit of R$ 4.8 billion.