Digital bank Nu Holdings reports 135 million customers and $15.90 average monthly revenue per user, up 23% year over year.
Nu Holdings (NU) shares have fallen 37% from their peak, despite a 42% year-over-year increase in revenue last quarter. The digital bank, targeting Latin America, now serves 135 million customers, primarily in Brazil, where over half of adults hold accounts.
Average monthly revenue per customer reached a record $15.90, growing 23% year over year. Management aims to boost revenue further through expanded services like lending, credit cards, and instant payments, including a new premium card, Nubank Ultravioleta.
Investor concerns persist over rising nonperforming loans, which climbed to 5% last quarter. However, the company remains focused on deepening customer engagement and product penetration.