NU HOLDINGS IS THIS ONE OF THE MOST INTERESTING GROWTH STORIES IN THE FINANCIAL SECTOR

Sometimes there are companies you should take a closer look at before they eventually become household names.

Nu Holdings (NYSE: $NU (+7,45 %) ) definitely falls into this category for me right now.

What exactly is Nu?

Nu Holdings operates Nubank, a digital financial platform, and has become one of Latin America’s largest digital financial service providers. The business model is simple: banking, credit cards, loans, savings products, and other financial services—all digital and without the traditional branch-based banking model.

And now the numbers get interesting.

Q2 2026:

• Revenue: $5.88 billion

• +39% year-over-year

• Net income: $1.06 billion

• +49% year-over-year

• First time exceeding $1 billion in profit in a single

quarter

• ROE: 33%

• 138.9 million customers worldwide

• Approximately 4 million new customers in the last quarter alone

• Loan portfolio: $39.4 billion

• +37% year-over-year

• Deposits: $45.3 billion

• Risk-adjusted NIM: 12.4%

• Efficiency ratio: 19.5%

The key point:

Nu isn’t just growing.

Nu is growing AND earning more and more money in the process.

It’s exactly this combination that makes the company interesting to me.

And then there’s the long-term story:

🇧🇷 Brazil

The home market is already huge. Nearly 118 million customers now come from Brazil alone.

🇲🇽 Mexico

I see this as one of the biggest growth drivers. Nu already has 15.8 million customers in Mexico—in July, it even surpassed the 16 million mark.

🇨🇴 Colombia

Here, too, the 5 million customer mark has now been surpassed.

And the story doesn’t end there.

Nu is working to further expand its offerings in these markets while simultaneously preparing to enter the U.S. market.

So what’s exciting isn’t just today’s business.

It’s the potential growth over the next 5–10 years.

139 million customers today.

What happens if Nu eventually reaches 200 million or even 250 million customers and, at the same time, sells more financial products per customer?

That’s exactly where I see the real leverage.

BUT:

I wouldn’t consider NU a “safe bank stock.”

The lending business is a key component of the business model. The loan portfolio is growing very rapidly at 37%, so default rates must be monitored closely.

That, to me, is currently the biggest risk.

Nevertheless:

33% ROE

49% profit growth

39% revenue growth

139 million customers

These aren’t just promises for the future.

These are figures that have already been achieved.

For me, Nu is therefore less of a traditional bank and more of a mix of FINTECH + BANK + GROWTH PLATFORM.

And that’s exactly why the stock is on my watchlist.

Not because of hype.

But because of the question: