Nu Receives Approval for New Bank Nubank, N.A.
Nu announced that it has received conditional approval from the Office of the Comptroller of the Currency of the United States for the formation of a de novo national bank, Nubank, N.A. Nu has now entered the bank organization phase, which involves satisfying specific OCC conditions alongside pending required approvals from the FDIC and the Federal Reserve. During this phase, the company will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months, as required by regulators, the company stated. "Receiving federal approval for a national bank charter is a significant step in our journey to becoming a solid, compliant, and competitive regulated institution in the US. We look forward to delivering the transparent, efficient financial experiences already trusted by more than 127 million customers around the world to our future customers in the US," said Nu's co-founder Cristina Junqueira, CEO of the emerging U.S. business.
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Comparing Investment Opportunities: JPMorgan Chase vs. Nu Holdings
- Stock Performance: JPMorgan Chase has achieved a total return of 156% over the past five years, indicating strong performance in the financial sector; however, its current price-to-book ratio of 2.4 is 33% above its five-year average, prompting investors to exercise caution.
- Financial Health: In Q4 2025, JPMorgan Chase reported a 7% year-over-year revenue growth with a net profit margin of 31%, showcasing its excellent risk management and operational discipline, which, despite its high stock price, continues to attract market interest.
- Nu Holdings Growth Potential: Nu Holdings, a digital bank, boasts 110 million customers, representing 60% of Brazil's adult population, and achieved a remarkable 42% revenue growth in Q3 2023, highlighting its strong expansion potential in the Latin American market.
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