Brazil's Nubank on Monday reported record revenue for the first-quarter as the digital bank benefited from steady growth in users and higher average revenue per customer. Warren Buffett-backed Nubank has so far been insulated from the downturn in the global banking sector as consumers in its key domestic Latin American market continue to gravitate towards its credit cards and personal loans.
"We have an exceptional capital position and excess liquidity, operate a low-cost platform, and continue to increase our product portfolio and customer engagement."