Nubank Receives Banking License from Brazil's Central Bank

Nubank has received approval from the Central Bank to finalize the acquisition of Banco Porto Real de Investimentos. The operation, announced in July, allows the fintech to officially use the term bank in its branding. This measure ensures compliance with Joint Resolution number 17, which restricts the use of this designation within the national financial system.

Until now, the company operated through payment institution, brokerage, and credit society licenses. The new authorization expands the company's regulatory structure, which already serves more than 120 million users in Brazil. The institution's CEO, Livia Chanes, points to this milestone as a reinforcement of the company's commitment to the local market.

The announcement comes shortly after the disclosure of a 5.5 billion reais profit, representing a 31% annual growth. The fintech plans to invest 45 billion reais in Brazil throughout this year. This amount significantly exceeds the volume of investments made by the company two years ago.

The company's shares rose 11.75% on the New York Stock Exchange following the release of third-quarter results. Analysts state that the institution maintains a solid pace of expansion despite more cautious economic projections for 2027. The market now awaits the annual investor event to obtain more details regarding the long-term strategy.