Nubank reported second-quarter 2025 net income of $637 million, a 42% increase from a year earlier, as revenue climbed 40% to $3.7 billion. The Brazilian digital lender said return on equity reached 28%, remaining well above local banking peers, even as the company continues to keep pricing below traditional banks. The customer base expanded to 123 million across Brazil, Mexico and Colombia. In Mexico alone, Nubank now serves more than 12 million people—roughly 13% of the country’s adult population—and accounted for over a quarter of all new credit cards issued during the past 12 months, management told analysts on an earnings call. Founder and Chief Executive Officer David Vélez said the bank holds regulated licences in each of its three existing markets and plans to add more as it expands internationally. To support that push, Nubank named former Brazilian central bank governor Roberto Campos Neto as vice-chairman and head of public policy, one of three senior hires announced during the quarter. Chief Financial Officer Guilherme Lago highlighted the private-payroll-backed loan product as a future growth driver, arguing that the bank’s low-cost model and a customer base covering more than half the target market position it to gain share as the offering matures. Nubank shares rose about 8% in after-hours trading following the results.