Nubank (NU) reported net income of US$ 1,091.6 million in the third quarter of 2026 (3Q26), up 39.5% from US$ 782.7 million in 3Q25, with a return on equity (ROE) of 32%. On a foreign-exchange-neutral basis (which eliminates the effect of currency fluctuations), profit growth was 31% year over year. Diluted earnings per share (EPS) was US$ 0.2235, compared with US$ 0.1595 a year earlier. The figures come from the unaudited interim financial statements, reviewed by KPMG.
Total revenue came to US$ 5.82 billion, up 39.5% from US$ 4.17 billion in 3Q25. Interest income and gains on financial instruments totaled US$ 5.0 billion, and fees and commissions totaled US$ 817.0 million. Gross profit was US$ 2.44 billion, compared with US$ 1.81 billion, and profit before taxes was US$ 1,350.3 million. The provision for expected credit losses rose to US$ 1.67 billion, from US$ 977.5 million in 3Q25.
On a managerial basis (Managerial P&L), which complements the IFRS statements, total revenue was US$ 6,258.5 million, and profit before taxes was US$ 1,743.4 million. The managerial view's reclassifications do not change net income of US$ 1,091.6 million, which is the same under both views.
In the first nine months of 2026, net income was US$ 3.02 billion, compared with US$ 1.98 billion in the same period of 2025, and total revenue reached US$ 16.3 billion. Shareholders' equity was US$ 14.3 billion as of September 30, and total assets were US$ 87.4 billion.
The credit portfolio totaled US$ 41.6 billion, up 33% in one year (FX-neutral). Deposits totaled US$ 47.5 billion. Net interest margin (NIM) was 22.5% and risk-adjusted margin was 12.1%. The 15-to-90-day delinquency rate was 4.9%, compared with 4.8% in 2Q26, and the over-90-day rate rose to 7.3%, from 6.9%. Nubank added 3.7 million customers in the quarter, reaching 143 million.
The efficiency ratio was 19.3%, compared with 20.3% in 3Q25. The company now expects a ratio of 19% to 19.5% in 2026, below its previous expectation of about 20%.
The bank repurchased 40,659,600 Class A shares for US$ 500.4 million under the program of up to US$ 1 billion, in effect from June 4, 2026 to June 3, 2027. US$ 499.6 million remained available.
On July 20, Nubank signed an agreement to acquire 100% of Banco Porto Real, subject to approval by the Central Bank. The Mexican arm began operating as a digital bank on August 6, and the U.S. operation was launched on September 10. On October 15, the CEO received 13,577,733 restricted shares, with an estimated fair value of about US$ 200 million on the grant date, vesting through 2036.
