Shares of Nu Holdings, the parent of Brazilian digital bank Nubank, rose Friday after the company reported record quarterly profit. The stock traded near $12.94 at 1:53 p.m. Eastern, up about $1.11, or 9.4%, from Thursday’s close of $11.83.
Nu said Thursday after the market closed that third-quarter net income reached a record $1.1 billion, up 31% from a year earlier on a currency-neutral basis, with a return on equity of 32%. Gross revenue reached a record $6.3 billion, up 37%.
The company added 3.7 million customers in the quarter, reaching 143 million, including nearly 120 million in Brazil and 16.6 million in Mexico, in its first quarter as a bank there. Its credit portfolio grew 33% to $41.6 billion.
Nu also lowered its expected 2026 efficiency ratio, a measure of costs against revenue where lower is better, to 19% to 19.5%, from about 20%. One measure of bad loans rose: loans more than 90 days overdue were 7.3% of the portfolio, up from 6.9% in the second quarter.
The figures are from afternoon trading and will change by the close.
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