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Nu Holdings Ltd. (NYSE:NU) reported second quarter 2025 financial results on Thursday, stating net income reached $637 million, the highest quarterly figure in the company’s history. The results were disclosed in a press release statement and filed with the Securities and Exchange Commission.
For the three months ended June 30, 2025, Nu Holdings’ revenues rose 40% year-over-year on a foreign exchange-neutral basis to $3.7 billion. Net income increased 42% year-over-year on the same basis. The company’s return on equity remained at 28%.
Nu Holdings added 4.1 million customers during the quarter, bringing its total customer count to 122.7 million, a 17% increase from the prior year. The company reported an activity rate above 83%. Deposits grew 41% year-over-year on a foreign exchange-neutral basis to $36.6 billion, and the loan-to-deposit ratio reached 43%.
The total credit portfolio expanded 40% year-over-year on a foreign exchange-neutral basis to $27.3 billion, while the interest-earning portfolio grew 55% to $15.7 billion. The 15-90 day non-performing loan ratio for the Brazil consumer credit portfolio declined by 30 basis points from the previous quarter to 4.4%. The 90+ day non-performing loan ratio increased by 10 basis points to 6.6%.
Nu Holdings’ monthly average revenue per active customer reached $12.2, up 18% year-over-year on a foreign exchange-neutral basis. The monthly average cost to serve per active customer remained at $0.8.
The company’s efficiency ratio rose to 28.3%, attributed to restricted stock unit expenses from the initial vesting of its 2025 annual grant and higher marketing investments during the quarter.
These results are based on the company’s unaudited financial statements prepared in accordance with International Financial Reporting Standards and were included in a press release statement filed with the SEC.
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