Nubank Agrees to Buy Banco Porto Real for Brazil Bank License
Nubank has become Brazil’s largest private financial institution by customer count while operating through payment institution, consumer-finance and securities-brokerage licenses rather than a full banking charter. Brazil’s Central Bank and National Monetary Council tightened rules on how financial companies may name themselves under Joint Resolution No. 17. A banking license is therefore important to preserving the Nubank brand and broadening the group’s capacity in corporate and wholesale credit.
On July 20, 2026, Nubank agreed to acquire Banco Porto Real de Investimentos S/A, a Rio de Janeiro state lender founded in 1992 that focuses on wholesale clients. Financial terms were not disclosed, and the transaction still requires approval from Brazil’s Central Bank. Once completed, the license will join Nubank’s existing authorizations within the Nu Pagamentos prudential group without additional capital or liquidity requirements. Nubank said its app, products, services, brand and name will remain unchanged for more than 115 million customers in Brazil.
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The history behind this eventNubank's 2025 Revenue Rises 45% as Digital Bank Plans U.S. Expansion
Brazilian fintech Nubank serves customers in Brazil, Mexico and Colombia through a low-cost digital banking model, reaching 131 million customers worldwide by the end of 2025. The company uses AI to improve credit underwriting and risk-based pricing, helping expand its credit card and lending businesses. Its planned U.S. entry marks an important step in its push beyond Latin America to become a global digital banking platform.
Nubank said on February 25, 2026, that 2025 revenue totaled $16.3 billion, up 45% year on year on a currency-neutral basis. Its credit portfolio reached $32.7 billion, an increase of 40%. The company applied for a U.S. banking charter in September 2025 and received conditional approval from the Office of the Comptroller of the Currency in January 2026. It must complete capitalization within 12 months and open for business within 18 months, while approvals from the FDIC and Federal Reserve remain pending.
Digital Bank Nubank's Profit Jumps 50% as Global Customer Base Tops 130 Million
Nubank, owned by Brazilian fintech company Nu Holdings, operates an all-digital banking model across Brazil, Mexico and Colombia. Low operating costs and rapid expansion have made Nubank Brazil's largest private financial institution by customer count, underscoring the accelerating adoption of digital finance in Latin America.
Nubank reported its fourth-quarter 2025 results on February 25, 2026. Quarterly net income rose 50% from a year earlier to $894.8 million, while revenue climbed 45% to $4.86 billion. Its global customer base increased 15% year on year to 131 million as of December 31, 2025, and the company continued to expand its presence in Mexico and Colombia.
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