Nubank is the best bank in Brazil for the third consecutive year -Forbes

RIO  DE JANEIRO, BRAZIL – For the third year in a row, Nubank was elected the best financial institution in Brazil and is among the best in the world. The recognition is from the North American magazine Forbes, from the annual ranking World’s Best Banks 2021, released since 2019.

Forbes surveyed in partnership with the statistics company Statista. More than 43,000 people in 28 countries evaluated about 500 banks based on criteria such as trust, customer service, digital services, advice, and financial education, terms and conditions, and overall satisfaction.

Nubank ranks first among the top-rated Brazilian banks. Since the beginning of the publication of the ranking by Forbes in 2019, Nubank has always been among the best in the world and leads the list of the best in the country.

Banco Inter appears in second place, followed by C6 Bank, PagBank, and Next (see below, the list of the ten financial institutions that appear at the top of the list).

The best banks in Brazil, according to the Forbes ranking:

Nubank
Banco Inter
C6 Bank
PagBank
Neon
Next
Sicredi
Itaú Unibanco
BMG
Caixa Econômica Federal

IPO IN BRAZIL AND THE U.S.

Nubank ended its first week on the Stock Exchange already being part of the most valuable companies in Latin America.

The company’s shares recorded a high of 14.71% on December 10 in New York, worth US$11.85. In the Brazilian Stock Exchange (B3), where the papers started to be traded in the form of BDRs (which are stock certificates listed outside the country), the gain was 14.54% – quoted at R$ 11.50.

With the rise, Nubank’s market value reached US$54.6 billion (R$305.8 billion). All traditional banks are still worth less than Nubank compared to the same currency. Only Vale (R$388 billion) and Petrobras (R$400 billion) are worth more than the digital bank in Brazil. The closest is Itaú Unibanco (R$205 billion).

In Latin America, Nubank is only less valuable than a select group of companies. It includes traditional businesses such as América Móvil, owner of Claro, valued at US$62 billion, but also Mercado Livre, another reference for technology companies in the region, and worth US$61 billion.

From Wall Street to downtown São Paulo, David Vélez, Cristina Junqueira, and Edward Wible maintained the discourse that the ambitions of the digital bank will remain high after the arrival on the stock exchanges. “The IPO is by no means the finish line. On the contrary, it is a moment that allows us to scale even further the impact we have,” said Junqueira, referring to the initial public offering (IPO).

CRISTINA JUNQUEIRA IN THE FORBES LIST

After Nubank’s debut on the New York Stock Exchange, Cristina Junqueira, co-founder of the digital bank, joined Forbes’ list of billionaires, with US$1.3 billion. Forbes did not inform what Junqueira’s position in the ranking is.

The patrimony calculated by the magazine would be enough to place Junqueira among the ten most affluent women in the country in the most recent list, from August, ahead of Camila Bueno Grossi (R$7 billion), a shareholder of Dasa and Amil, and Gisele Trajano (R$7.2 billion), one of the heirs of Onofre Trajano, part of the family that created Magazine Luiza.

According to the publication, Junqueira is only the second Brazilian woman to become a billionaire with her enterprise. The first was Luiza Trajano, president of the board of directors of Magalu, and who, in the magazine’s final list of billionaires, had an estimated fortune of R$23.5 billion.