Nubank's Q2 Net Income Jumps 42% as Mexico Customer Base Exceeds 12 Million

Nu Holdings Ltd. (NYSE: NU), one of the world's largest digital financial services platforms, announced robust Second Quarter 2025 financial results, showcasing significant customer growth and strong profitability across its Latin American markets. The company reported a substantial increase in net income and revenue, driven by its expanding user base, particularly in Mexico and Colombia. These results underscore Nubank's strategic focus on deepening customer relationships and expanding its digital banking footprint.

The digital bank's international expansion has yielded impressive customer acquisition figures. "In Mexico, we surpassed 12 million customers now serving approximately 13% of the adult population. And in Colombia, nearly 10% of the population is already choosing Nu as their financial partner," stated Jevgenijs Kazanins in a tweet, quoting content from Nubank's Q2 2025 earnings call. Globally, Nubank added 4.1 million new customers in Q2 2025, bringing its total customer base to 122.7 million, a 17% year-over-year increase.

Financially, Nubank demonstrated strong performance, with revenue reaching a record $3.7 billion, marking a 40% year-over-year increase. Net income surged by 42% year-over-year to $637 million, representing the company's highest quarterly result. The Monthly Average Revenue per Active Customer (ARPAC) crossed the $12 mark for the first time, reaching $12.2, an 18% increase year-over-year on a foreign-exchange-neutral basis. The company also maintained a high activity rate of 83.2% and a stable low cost to serve per active customer at $0.80, contributing to an improved efficiency ratio of 28.3%.

David Vélez, founder and CEO of Nubank, emphasized the company's dual focus on growth and efficiency. He stated, "In Q2’25, we achieved another quarter of robust growth, expanding our customer base to nearly 123 million with over 4.1 million net additions, and maintaining an activity rate above 83%." Vélez added that these results "prove that it's possible to scale efficiently, with discipline, and still generate strong earnings while building the foundation for the long-term." The company continues to invest strategically in research and development and digital transformation to sustain its growth trajectory and enhance product adoption.