Nubank, the digital financial institution founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, announced an agreement to acquire Banco Porto Real, Rio de Janeiro, specialized in wholesale credit. The operation, subject to approval by the Central Bank of Brazil, responds to the Joint Resolution, which requires a banking license for institutions that use the word “bank” in their brand or communications.
The acquisition is symbolic in terms of size: Banco Porto Real had just US$6.3 million in assets in March. However, its strategic value is key, the license will be added to those that Nubank already operates as a Payment Institution, Credit and Financing Company, and Securities Brokers, without imposing additional capital or liquidity requirements, and without changing the experience of its clients in any way.
A bank that already operates on a giant scale
Nubank is today the largest private financial institution in Brazil by number of clients, with more than 115 million users in the country. One in five Brazilian adults accessed an account, credit or savings tools thanks to the company, and it is the financial institution most chosen by Brazilians to concentrate salaries, payments and financial products.
“Brazil is where Nubank was born, grew and demonstrated that fairer and simpler financial services are possible at scale. Thirteen years later, it remains our main focus, a market where we can still significantly expand our participation” said David Vélez, founder and global CEO of Nubank.
Regulatory expansion in three markets
The acquisition of Banco Porto Real is part of a wave of regulatory movements by Nubank in 2026: in early July it obtained the green light to operate as a bank in Mexico, its second largest market, and in January it received preliminary approval to carry out banking activities in the United States. For Brazil, the company also announced this year investments of US$8 million in the national market, almost double the amount of the previous two years.
With a presence in Brazil, Colombia and Mexico, and a regulatory expansion strategy that advances in parallel in its three markets, Nubank consolidates its position as one of the digital banks with the greatest reach in Latin America, competing on equal terms with giants such as Itaú Unibanco, Banco de Brasil and Bradesco.
