Summary by Moomoo AI
Nu Holdings Ltd. (Nu), a leading digital banking platform, announced its financial results for the second quarter of 2024 on August 13, 2024. The company reported a significant year-over-year increase in net income, which more than doubled to US$ 487 million, with a return on equity (ROE) of 28%. Customer growth was also notable, with Nu reaching 105 million customers globally, a 25% increase from the previous year. The company highlighted the successful launch of checking accounts in Mexico and Colombia, contributing to deposits of US$ 3.3 billion and US$ 220 million, respectively. Nu's CEO, David Vélez, expressed confidence in the company's business model and growth trajectory, particularly in Latin America. The financial results, prepared in accordance with International Financial Reporting Standards (IFRS), were made available on the company's Investor Relations website. Nu also scheduled an Earnings Conference Call for the same day to discuss the results.
