Brazil’s Nubank loses ranking as Latin America’s most valuable bank

The digital bank lost its position in the stock market after debuting with a valuation of US$41.5 billion in December.

RIO DE JANEIRO, BRAZIL - Nubank lost the position achieved in December as the most valuable bank in Latin America. The digital bank closed Friday, January 14, valued at US$37.4 billion, while Itaú Unibanco, now in first place, closed at US$39.5 billion.

When it debuted on the Brazilian and U.S. stock exchanges (NYSE), the fintech priced its shares at US$9 each in an initial public offering (IPO). At the time, the digital bank debuted valued at US$41.5 billion.

Nubank's shares fell 13.4% in 2022. The expectation of rising interest rates in . . .

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