RIO DE JANEIRO, BRAZIL - The fintech debuted on the New York Stock Exchange less than 2 months ago as Latin America's most valuable financial institution, at US$52 billion. Although its shares have slumped since then, Velez said the company - whose 48 million clients make it one of the world's largest digital banks and which recently expanded in Mexico - is well-positioned to grow.
Velez said he expects the ratio of nonperforming loans (NPL) to rise this year as Brazilian consumers struggle with high inflation, rising interest rates and a sluggish economy.
But he sees Nubank keeping its . . .