checkAd

Nu Holdings Ltd. Reports First Quarter 2022 Financial Results

Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), (“Nu” or the “Company”), one of the world’s largest digital banking platforms, released today its First Quarter 2022 financial results. Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS). The full earnings release has been made available on the Company’s Investor Relations website at www.investors.nu, as well as the details of the Earnings Conference Call Nu will hold today at 6:00pm Eastern time/7:00pm Brasília time.

"This is the strongest quarter in Nu's history. We reached nearly 60 million customers and a record-high activity rate of 78%. Our earnings-generating formula helped drive a record high quarterly revenue of US$887 million (226% increase YoY on a FXN), with a low customer acquisition cost, increasing revenue per customer, and decreasing cost to serve. Our credit portfolio grew significantly above market and maintained healthy quality levels. This result is driven by our advanced risk modeling, as well as our disciplined and resilient lending, especially in light of the current macroeconomic conditions. Despite recent short-term market volatility and our upcoming lock-up release, we remain fully confident and committed to our long-term value creation, as reiterated by our main shareholders,” said David Vélez, founder and CEO.

Q1’22 Results Snapshot

Below are Q1’22 performance highlights of Nu Holdings Ltd.:

Operating Highlights:

  • Customer growth: Nu added 5.7 million customers in the quarter, reaching a total of 59.6 million customers in Brazil, Mexico and Colombia. This represents a 61% growth year-over-year (YoY).
  • Engagement and activity rates: Average Revenue per Active Customer (ARPAC) expanded to $6.7, growing by 63% on a FX neutral basis (FXN)1, and the activity rate to 78%, with active customers2 reaching 46.5 million. Nu estimates that over 54% of the total active customers that have been with Nu for more than 12 months have chosen Nu as their primary banking relationship.
  • Low-cost operating platform: Monthly Average Cost to Serve Per Active Customer decreased 30% YoY on a FXN to $0.7 in Q1´22
  • Asset Quality: Nu’s 90+ NPL ratio increased 70 bps in the quarter, following the previous quarters behavior driven by seasonality and a shift in product mix coupled with risk normalization. The ratio remained below pre-COVID levels, the Company's historical average and also below the industry average during the period.

Financial Highlights:

Seite 1 von 4


Nachrichtenquelle: Business Wire (engl.)
 |  476   |   |   

Schreibe Deinen Kommentar

Disclaimer

Nu Holdings Ltd. Reports First Quarter 2022 Financial Results Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), (“Nu” or the “Company”), one of the world’s largest digital banking platforms, released today its First Quarter 2022 financial results. Financial results are expressed in U.S. dollars and are presented in …

Nachrichten des Autors

Titel
Titel
Titel
Titel