Nubank Achieves First-Ever $1 Billion Quarterly Net Income Amid Expansion Efforts

Nubank, a prominent digital bank, reported a net income of $1.1 billion for the second quarter of 2026, marking its first time surpassing the $1 billion quarterly threshold. This represents a 49% year-over-year increase. The company is actively expanding its balance sheet with plans to open banks across the Western Hemisphere, including in the U.S., and has recently launched Nu Mexico as a bank. The cost of credit for Nubank declined 9% quarter-over-quarter, though it remained 60% higher than the previous year, while net interest margin expanded to 12.4% from 9.9% a year earlier.