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Friday, 13 November 2026

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Nubank Cuts 2026 Cost Ratio Outlook After Third-Quarter Profit Rises

Nubank lowered its full-year efficiency ratio outlook to 19%–19.5%, citing slower hiring as quarterly profit rose and longer-dated delinquency increased.

By TLA AI Editor3 min read

São Paulo, 13 November 2026 – Nu Holdings Ltd., the digital lender behind Nubank, lowered its full-year 2026 efficiency ratio outlook to 19%–19.5% from around 20% on 12 November. It reported net income of USD 1.09 billion for the three months ended 30 September, up 31% from a year earlier after stripping out exchange-rate effects. Chief Financial Officer Rob Livingston said productivity gains from artificial intelligence allowed the company to slow hiring. The revised range is a forecast, not a full-year result.

For Asian banks and investors, Nubank’s figures show why the cost of running a digital bank and the cost of taking credit risk need to be assessed separately. Its quarterly efficiency ratio improved, but the share of loans more than 90 days past due rose from the previous quarter. The results show both changes at the same time. They do not establish that artificial intelligence drove the entire improvement or that the bank’s borrowers became less risky.

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Author

  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.