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Nubank to hike Colombia investments by $160 million by 2025
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: +1 min
BOGOTA, May 31 (Reuters) - Brazilian digital bank Nubank , Latin America's biggest fintech company, will invest up to a further 700 billion pesos ($159 million) in its Colombian operations by 2025, its financial director for Colombia said on Wednesday. The additional sum, from the bank's own resources, will raise its investments in its third largest market behind Brazil and Mexico to 2 trillion pesos. Nubank has 635,000 credit card customers in Colombia, equivalent to a 3.6% market share. It has some 80 million clients in Brazil, Mexico and Colombia. Nubank reported a net profit of $142 million in the first quarter, swinging from a year-earlier loss of $45.1 million as its customer base grew.
Persons: Felipe Castellanos, Nubank, Nelson Bocanegra, Oliver Griffin, John Stonestreet Organizations: Thomson Locations: BOGOTA, Colombia, Brazil, Mexico, Bogota, Nubank
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