Nubank announced on Monday evening, July 20th, that it has signed a share purchase agreement to acquire 100% of Banco Porto Real de Investimentos SA. The operation aims to obtain a banking license in Brazil – something the company currently lacks, despite being the largest private financial institution in the country in terms of number of clients.
The acquisition complies with Joint Resolution No. 17, issued by the Central Bank (BC) and the National Monetary Council (CMN), which standardizes the use of the term "bank" by regulated institutions. Nubank had already signaled its intention to seek a banking license in Brazil to the market in December 2025.
The regulation, published on November 28, 2025, established a 120-day deadline for non-compliant institutions to present an adaptation plan to the Central Bank, and a maximum period of one year for the effective adaptation to be completed, including any change of brand, trade name, and other institutional materials. The announcement of the purchase of Porto Real therefore occurs approximately four months before the end of this deadline.
Once the process is completed, the Porto Real license will be added to the other licenses under which Nubank already operates in the country: Payment Institution, Credit, Financing and Investment Company (SCFI), and Securities Brokerage (CTVM).
According to the statement, the inclusion of the new license within the conglomerate does not impose additional capital or liquidity requirements, preserving the institution's financial soundness. For Nubank's 115 million customers in Brazil, nothing changes.
Founded in 1992, Banco Porto Real de Investimentos is headquartered in the city of Porto Real, in the interior of Rio de Janeiro, and is considered a small institution.
According to prudential data from the Central Bank referring to March 2026, the bank had total assets of only R$ 6.2 million, a loan portfolio of R$ 1.8 million, and net worth of R$ 6 million, with a Basel ratio of almost 200%. The institution is not part of any financial conglomerate and has only two branches, without any service points.
The completion of the transaction is subject to approval by the Central Bank. The company stated that it will keep the market updated on relevant developments.
The move in Brazil comes ten days after Nubank announced a similar advance in Mexico , where it received authorization from the Comisión Nacional Bancaria y de Valores (CNBV) to operate as a bank, paving the way for investments of US$4.2 billion in the country by 2030.
The Mexican operation, which reached breakeven in the first quarter , has more than 15 million customers and US$5.9 billion in deposits.
The two announcements reinforce Nubank's expansion strategy of formalizing its presence as a bank in the markets where it operates — a move that, according to founder and CEO David Vélez , also targets the United States, considered by the company to be the most important step in its internationalization.
On Monday, July 20th, before the acquisition announcement, Nubank shares closed the trading session up 2.94%, quoted at US$13.99. In after-market trading , the shares are operating near stability, at US$13.97 (-0.14%).
