Highlights 

  • Nu Holdings grew its customer base to 127 million, adding 4.3 million users in Q3’25. 
  • Quarterly revenue reached USD 4.2 billion, marking a 39% YoY FX-neutral increase. 
  • Net income climbed to USD 783 million, with an annualized ROE at 31%. 
  • Deposits expanded to USD 38.8 billion, reflecting continued market penetration. 
  • Nu advanced its AI-first strategy to enhance personalization, risk management, and efficiency. 

Nu Holdings Ltd. (NYSE:NU), one of the world’s largest digital financial platforms, reported its Third Quarter 2025 results, highlighting continued expansion across Latin America. The company reached 127 million customers, adding 4.3 million new users during the quarter—a 16% year-over-year increase. In Brazil, Nu remains the third-largest financial institution by customer count, serving more than 60% of the adult population. Engagement remains high, with an activity rate above 83%. 

Monthly Average Revenue per Active Customer crossed USD 13 for the first time, reaching USD 13.4, up 20%YoYon an FX-neutral basis. At the same time, Nu maintained its highly efficient operating model with an Average Cost to Serve of just USD 0.90 per active customer, keeping customer-level profitability attractive while scaling its platform. 

Assetquality indicators reflect seasonal dynamics. The 15-to-90-day NPL ratio declined to 4.2%, while the 90+ day NPL ratio increased slightly to 6.8%, in line with expected portfolio trends. 

Record Financial Results Across Revenue, Profit, and Deposits 

Nu posted record revenue of USD 4.2 billion in Q3’25, up 39% YoY FX-neutral, reflecting deeper customer monetization and continued expansion of its lending and deposit franchise.Gross profitrose to USD 1.8 billion, and gross margin improved to 43.5%. Net interest income reached USD 2.3 billion, with risk-adjusted NIM increasing 70 bps to 9.9%. 

Net income reached USD 783 million—up 39% YoY FX-neutral—while adjustednet incomeincreased to USD 829 million. The company delivered a 31% annualizedreturn on equity, demonstrating the scalability of its model. Total deposits climbed 34% YoY FX-neutral to USD 38.8 billion, reflecting customer trust and growing wallet share. Nu’s total credit portfolio expanded to USD 30.4 billion, with the Interest-Earning Portfolio rising 54% YoY to USD 17.7 billion. 

Brazil remained the company’s largest market, with 110.1 million users and USD 30.4 billion in deposits. International operations continued advancing, with Mexico reaching 13.1 million customers and Colombia reaching 3.8 million. 

AI-First Vision Powers Next-Generation Banking 

Nu emphasized its transition toward becoming an AI-first financial platform. Foundational AI models are being embedded throughout the business to improve personalization, automate processes, enhance risk management, and drive cost efficiencies. The company is using AI to deliver tailored recommendations, proactive financial insights, safer credit products, and more accurate fraud and collection strategies. 

Nu believes AI will enable both superior customer experience and stronger long-term economics, supporting its ambition to reshape financial services across Latin America. 

Conclusion 

Nu Holdings’ third-quarter results underscore its continued growth, rising profitability, and expanding customer footprint. With record financial performance, improving efficiency, and a strategic shift toward AI-driven operations, Nu is deepening its position as a majorfintechleader in Latin America. As the company scales across Brazil, Mexico, and Colombia, its focus on technology, customer engagement, and financial access continues to define its competitive edge.