Nu Holdings' total credit portfolio reached $39.4 billion in the second quarter of 2026, up 37% year over year and 5% sequentially, with growth spread across all lending lines. Within that total, credit card balances rose 35% to $26 billion, unsecured lending jumped 45% to $10.3 billion and secured lending increased 30% to $3.1 billion. Net interest income rose 9% sequentially to $3.7 billion and net interest margin expanded 180 basis points to 22.9%, while cost of credit fell 9% sequentially to $1.7 billion. On credit quality, the 15-90 day NPL ratio improved 16 basis points to 4.8%, but 90-plus-day delinquencies increased 35 basis points to 6.9%, which management attributed largely to seasonal migration of loans that became delinquent in the first quarter. Management said the added risk-taking was intentional, with planned risk expansion adding 24 basis points to early delinquencies while seasonality reduced the ratio by 37 basis points, and coverage was maintained at 244% of 90-plus-day nonperforming loans.
Nu Holdings LtdQ2 2026 credit portfolio grew 37% YoY to $39.4B with NII up 9% sequentially and NIM expanding 180bp to 22.9%
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