The Brazil based neobank welcomed more than 5m new users in the third quarter of this year as profits surged to $915m. Alongside a 100% increase in gross profit Year-on-Year, the bank’s gross profit margin grew from 33% for the same period last year to 43% this year.
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Nubank hits 90m customers as third quarter profits soar
"It’s important to note that we are achieving these strong levels of profitability while keeping asset quality in line with expectations and continuing to invest in product portfolio and geo expansion."
