15 Best Bank Stocks to Buy According to Billionaires

6. Nu Holdings Ltd. (NYSE:NU)

Number of Billionaire Investors: 17

Nu Holdings Ltd. (NYSE:NU) is a Brazilian company operating a digital banking platform in several countries across Latin America, the United States, and Europe. It offers a range of financial services, including digital credit and prepaid cards, mobile payments, personal and business accounts, investment options such as equities and cryptocurrencies, borrowing solutions, and insurance products. NU ranks 6th on our list of the best bank stocks to buy.

Nu Holdings Ltd. (NYSE:NU), the parent company of Nubank, announced in late-January that it is considering moving its legal base to the UK as part of a global expansion that may include the United States too. This move would be a significant post-Brexit win for the UK. Nubank, with over 100 million customers in Latin America, sees favorable conditions in the US due to potential regulatory changes favoring digital banking and cryptocurrency services.

Nu Holdings Ltd. (NYSE:NU) has seen incredible growth, adding 20.4 million new customers in 2024 and reaching a total of 114.2 million. In Brazil, Nu has become the third-largest financial institution by customer base, with 58% of the adult population using its services. Mexico has also hit a milestone, surpassing 10 million customers, while Colombia has reached 2.5 million, showing strong momentum after launching its Nu Cuenta product.

In the fourth quarter of 2024, the company’s net income jumped to $552.6 million from $360.9 million the previous year, and adjusted net income rose to $610.1 million. Revenue soared by 50% year-over-year to $3 billion, with deposits increasing by 55% to $28.9 billion. The average monthly revenue per active customer grew by 23% to $10.7, and the loan-to-deposit ratio was 39%. These figures indicate Nu’s expanding presence across Latin America.