Nubank has agreed to acquire Banco Porto Real de Investimentos, using the transaction to add a full banking licence to its Brazilian financial conglomerate and meet Brazilian rules on how regulated institutions use brand names.
The transaction, announced on 20 July 2026 by Nubank, whose parent Nu Holdings is listed on the New York Stock Exchange under the ticker NU, covers 100% of Banco Porto Real de Investimentos S/A and is subject to approval by Brazil's Central Bank. Financial terms have not been disclosed.
STRATEGIC RATIONALE FOR NUBANK
Nubank said the acquisition is intended to strengthen its Brazilian operation by adding a banking licence to its financial conglomerate in order to fulfil the requirements of Joint Resolution No. 17, issued by Brazil's Central Bank and the National Monetary Council, which standardises the use of brand names by regulated institutions. Nubank had disclosed this intention to the market in December 2025.
For Nubank, which describes itself as the leading digital financial institution in Latin America, the banking licence will sit alongside its existing payment institution, credit, financing and investment company, and securities brokerage licences, and the group said nothing would change for its 115 million customers in Brazil. Nubank said adding the licence imposes no additional capital or liquidity requirements on its prudential conglomerate.
In March, Nubank joined Febraban, the Brazilian Federation of Banks.
REGULATORY APPROVAL STILL NEEDED
Completion of the transaction is contingent on approval by Brazil's Central Bank.
Banco Porto Real, founded in 1992 in Porto Real, Rio de Janeiro, extends credit to wholesale clients.
Founder and global CEO David Vélez said Brazil “remains our main focus, a market where we can still significantly expand our share”.