Nubank presented satisfying results to its investors ahead of its initial public offering (IPO) in New York. Almost 8.5 years after being founded, in May 2013, Nubank had reported the first profit in its history: the first half of 2021 had a result of BRL 76.294 million (USD 13.84 million). In the same period of 2020, the company had a negative balance sheet of BRL 95 million (USD 17.24 million).

According to the company, the income will be invested in innovative products and services for customers rather than being distributed to shareholders.

In addition, the bank also announced it ended June with more than 41 million customers in Brazil, an increase of 25 percent compared to the previous six months and 60 percent over 12 months.

Source: Brazilian Report

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