Nubank posts $1B Q2 2026 net income, beats estimates

Nubank, Latin America's largest digital bank, reported net income of $1.02 billion for the second quarter of 2026, topping analyst estimates and marking a 38% increase from the prior-year period.

The São Paulo-based lender attributed the profit growth to higher loan volumes, improved credit quality, and continued cost optimization. Net revenue rose 22% year-over-year to $2.1 billion, driven by expansion in its core credit card and personal loan segments. Operating expenses declined 5% sequentially, reflecting efficiency gains in customer acquisition and technology investments.

Nubank's total customer base grew 18% to 78 million, with 6.2 million new accounts opened during the quarter. The company's loan book expanded 25% to $34.5 billion, supported by a 12% increase in average loan balances per customer. Provisions for credit losses remained stable at 3.1% of total loans, indicating sustained asset quality.

Analysts had projected net income of $920 million for the quarter, according to a Refinitiv consensus estimate. The outperformance follows Nubank's $800 million net income in Q1 2026, underscoring its ability to scale profitability amid regulatory scrutiny and competitive pressure in the region's fintech sector.

Shares of Nubank, listed on the NYSE under the ticker NU, were up 3.2% in pre-market trading following the results. The company has not provided forward guidance in its earnings release.