Credit RiskTop-of-the-funnel non-performing loans were notably high, driven by aggressive growth in Mexico and Colombia, with the cost of risk increasing to 6.3%.
Earnings StabilityEarnings expectations for 2024 have remained relatively unchanged, even as the Brazilian Real has devalued by 10%.
Growth ConcernsThere are doubts about whether Nubank can become a profitable player in Mexico due to the country's unique challenges.