Nubank Strengthens Its Brazil Operation With a New Banking License

The move comes through the acquisition of Banco Porto Real and deepens the relationship of trust with the company's more than 115 million customers in the country

SÃO PAULO--(BUSINESS WIRE)--Nubank, the leading digital financial institution in Latin America, announces an agreement to acquire Banco Porto Real de Investimentos S/A, a bank founded in 1992 in Porto Real, Rio de Janeiro, that operates in the extension of credit to wholesale clients. With this move, which will be submitted for approval by Brazil's Central Bank, Nubank meets the requirements of Joint Resolution No. 17, issued by the Central Bank and the National Monetary Council (CMN), which regulates the naming of financial institutions.

Once the acquisition process is completed, Banco Porto Real's banking license will be added to the other licenses under which Nubank already operates and that fully serve its business model: Payment Institution, a Credit, Financing, and Investment Company (Sociedade de Crédito, Financiamento e Investimento), and a Securities Brokerage Company (Sociedade Corretora de Títulos e Valores Mobiliários). All obligations undertaken by Banco Porto Real will be fulfilled in accordance with the guidelines set out in the acquisition agreement.

The addition of this new license to the prudential conglomerate of Nu Pagamentos S.A. – Instituição de Pagamento imposes no additional capital or liquidity requirements, preserving its financial strength and resilience. For Nubank's 115 million customers in Brazil, nothing changes: the app, products, services, brand, and the institution's name all remain the same.

"Brazil is where Nubank was born, grew, and proved that fairer, simpler financial services are possible at scale. Thirteen years later, it remains our main focus, a market where we can still significantly expand our share and continue driving the transformation of the sector," says David Vélez, founder and global CEO of Nubank.

"Our DNA of innovation remains intact, and we are committed to deepening our relationship with every customer, offering more solutions with the same simplicity that has always defined us," says Livia Chanes, Nubank Latam CEO.

In March, Nubank joined Febraban (the Brazilian Federation of Banks), shortly after consolidating its position as the largest private financial institution in Brazil by number of customers. For this year, the company also announced R$45 billion in investments in the domestic market, nearly double the amount of the past two years.

This consistent expansion has combined scale with quality: Nubank holds one of the lowest complaint ratios at the Central Bank among the country's largest financial institutions, and has won the Reclame Aqui Award nine consecutive times, recognizing the excellence of its customer service.

The company's impact across the country also helps illustrate the recent revolution throughout the financial system: 31.5 million people — roughly one in five adults in Brazil — gained access to an account, credit, and solutions to save money thanks to Nubank. Recognition of the institution's work is also reflected in customer preference. Nubank is the financial institution most chosen by Brazilians to concentrate their salary, payments, and financial products, according to Bain & Company's NPS Prism for the fourth quarter of 2025.