By Andre Romani
Sao Paulo (Reuters) -Nabank, one of the fastest growing digital lenders in the world, is planning to announce an expansion this year after the broom through its domestic market Brazil and Colombia. , An executive in the firm said on Thursday, said on Thursday, as the fourth quarter profit increased.
The adjusted net profit was not enough to lift the shares, however, which was slipped into the hourly trading.
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Nubank, which is listed on the New York Stock Exchange through NUBANK, extended its customer base to 22% year-on top 114 million customers in late December.
Nubank hopes to announce its latest market after Brazil, Mexico and Colombia by the end of this year, Jorg Friedman, Director of Nubank’s investor relations, told the Reuters in an interview.
He said, “We are not yet ready to make any other specific announcements about where the next geography will be.”
The management of Nubank is pointing to many quarters and expansion. Investors and analysts are waiting for more details at the time and location.
Last month, CEO David Welse stated that Deragulation could make the US banking sector more interesting for new entry, while Europe was not a priority for Nubank.
“2025 will be the year in which we start setting a foundation to become a technology company for Nubank that can work in many countries and regions,” said Friedman.
The Warren Buffett-supported firm posted an adjusted net profit of $ 610 million for the quarter ended December on Thursday, which was above the estimated $ 567 million by analysts in the LSEG pole.
Nevertheless, after the results were published, NU Holdings’s shares were about 6% below the hour trading.
Revenue increased by 50% in this quarter, except for analysts’ $ 3.29 billion estimates of $ 3.29 billion.
CITI analysts stated customers in a note that the results were mostly negative through their reading, the major performance indicators on the revenue side “clearly decentrating” and banks were reducing indicators of some provisions.
(Reporting by Andre Romani; Kylie Madri and Nia Williams)
