Nubank said it will boost its presence in Brazil by signing a deal to buy Banco Porto Real de Investimentos S/A. The move also reinforces the company’s long-term commitment to its more than 115 million customers nationwide.
The deal still has to be approved by Brazil’s Central Bank. If approved, the transaction will also help Nubank meet the requirements set forth under Joint Resolution No. 17. The regulation, of the Central Bank and the National Monetary Council (CMN), establishes the naming framework of financial institutions that operate in Brazil.
Founded in 1992 in Porto Real, Rio de Janeiro, Banco Porto Real. Lending to wholesale clients is the bank’s core activity. After the acquisition is finalized, its banking license will be added to Nubank’s existing portfolio of financial licenses.
Nubank is currently regulated by a number of licenses. Payment Institution license, Credit, Financing and Investment Company license, and Securities Brokerage Company license. Thus, the acquisition of the Banco Porto Real’s banking license improves the company’s regulatory framework and supports its business model. Moreover, all commitments undertaken by Banco Porto Real shall be kept in accordance with the terms of the acquisition agreement.
Nubank continues to grow its financial services across Brazil
The company also said that the new banking license will be part of the prudential conglomerate of Nu Pagamentos S.A. – Instituição de Pagamento and will not demand additional capital or liquidity. This means Nubank will remain financially resilient and operationally strong. Customers will also not see any changes to the app, products, services, brand or the institution’s name.
“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.
Nubank joined Febraban, the Brazilian Federation of Banks, earlier this year. The announcement comes as the company becomes the largest private financial institution in Brazil by number of customers. Nubank também anunciou planos para investir R$45 bilhões no mercado doméstico este ano. The investment is almost twice the total committed over the past two years.
Strong customer satisfaction has also helped drive the company’s growth. According to the Central Bank, Nubank has one of the lowest complaint ratios among the largest financial institutions in Brazil. It has also received the Reclame Aqui Award for nine years in a row for customer service excellence.
Nubank also continues to drive financial inclusion across Brazil. The company claims it has delivered banking accounts, credit products and savings solutions to about 31.5 million people, or close to one in five Brazilian adults. Meanwhile, Bain & Company’s NPS Prism for the fourth quarter of 2025 ranked Nubank as the most preferred bank by Brazilians for salary deposits, payments and financial products.
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News Source: Businesswire.com
