Nu Holdings is adjusting its strategy for its August 6 bank launch in Mexico. The company will prioritize growing its deposit base over rapid customer acquisition. This pivot aims to secure a stable, low-cost funding source for its Mexican credit operations.
Mexican clients currently represent 11% of Nu’s total customer base. These users already contribute approximately 14% of the group’s total deposits. The shift reflects a maturing business model focused on long-term profitability and balance sheet sustainability.
Nu Mexico has surpassed 15 million customers. The regional unit has already reached breakeven status. Nu Holdings shares fell 2.21% to $14.19 on Thursday, July 24.