Nubank Buys Banco Porto Real to Secure Brazil Banking License
Nubank, one of Latin America’s largest digital financial platforms, has operated in Brazil under licenses covering payments, consumer finance and securities brokerage rather than a banking charter. Acquiring Banco Porto Real de Investimentos S/A adds a bank focused on wholesale lending and helps Nubank comply with Joint Resolution No. 17, issued by Brazil’s Central Bank and National Monetary Council to regulate how financial institutions may describe themselves.
Nubank announced the acquisition agreement on July 20, 2026. Banco Porto Real, founded in 1992 in Porto Real, Rio de Janeiro, extends credit to wholesale clients. Financial terms were not disclosed, and the transaction remains subject to approval by Brazil’s Central Bank. Once completed, the license will join the prudential conglomerate of Nu Pagamentos S.A. without additional capital or liquidity requirements, while products and services for Nubank’s more than 115 million Brazilian customers will remain unchanged.
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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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