Nu Holdings Limited

Latest Results (12.09.2025):

Nu Holdings Limited reported robust financial results for the fourth quarter and full year of 2024, demonstrating substantial growth in revenue, customer acquisition, and profitability. The company strengthened its position as a leading digital financial services platform in Latin America, achieving significant milestones in expanding its customer base and enhancing operational efficiency.

Revenue Growth

For the full year 2024, Nu Holdings Limited achieved $11.5 billion in revenue, representing a 58% year-over-year increase on an FX-neutral basis. In the fourth quarter of 2024, revenues reached $2.99 billion, continuing the company's strong growth momentum.

Enhanced Profitability

Net income for FY’24 nearly doubled from 2023, reaching approximately $2.0 billion. In Q4’24, net income was $552.6 million, an 85% increase from Q4’23 on an FX-neutral basis. Adjusted net income also saw significant growth, solidifying Nu’s status among the most profitable global financial institutions.

Customer Base Expansion

Nu added 20.4 million customers in FY’24, bringing the total to 114.2 million globally by December 31, 2024, a 22% year-over-year increase. In Q4’24 alone, the company acquired 4.5 million new customers, reinforcing its position as one of the world’s largest and fastest-growing digital financial services platforms.

Operational Efficiency

The monthly average cost to serve per active customer remained low at $0.8, highlighting the strong operating leverage of Nu’s business model. The efficiency ratio improved by 150 basis points sequentially to 29.9%, which is over 610 basis points better than the previous year.

International Expansion

Nu reached significant milestones in international markets, including surpassing 10 million customers in Mexico and expanding its presence in Colombia with 2.5 million customers. The company also launched new products such as NuTravel and NuCel, diversifying its offerings and strengthening its ecosystem.

Asset Quality Improvement

The 15-90 NPL ratio decreased by 30 basis points to 4.1% in Q4’24, reflecting a shift towards lower-risk customer and product profiles. Additionally, 90+ NPLs declined by 20 basis points to 7.0%, aligning with seasonal trends and improving asset quality.