Nu Holdings' Mexico Expansion Faces Credit Risk Challenges
Nu Holdings (NYSE: NU) is expanding its digital banking operations in Mexico but faces rising credit risk due to higher non-performing loan rates among Mexican customers compared to Brazil. The company has grown its customer base rapidly, from 2.1 million in Q1 2022 to 15 million in Q1 2026, though increased spending on cross-selling financial products may raise average costs per active customer.
Topics: credit risk customer growth Latin America Mexico expansion Nu Holdings