Nubank moves to enter Brazil's banking industry with Banco Porto Real acquisition

1. 1Nubank (NU) has agreed to acquire Banco Porto Real de Investimentos to secure a full banking license in Brazil.
2. 2The deal is subject to approval by Brazil's central bank, and its 115 million Brazilian customers will see no changes to the app, products, services, brand, or institutional name.
3. 3Once the acquisition closes, Banco Porto Real's banking license will join Nubank's existing payment institution, financial company, and securities brokerage licenses.

Source Retail Banker International +1 · View original ↗

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