5 Best Performing Bank Stocks in 2023

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1. Nu Holdings Ltd (NYSE:NU)

Year To date Gain: 130%

Nu Holdings Ltd (NYSE:NU) stand out as one of the best-performing banking stocks rallying by about 130% year to date. The stock has been flying high amid the high-interest rate environment, making banking stocks attractive. The financial institution offers digital financial services in Brazil, Mexico, and Columbia through its Nu credit don debit cards.

While lending to a credit-starved population, Nu Holdings Ltd (NYSE:NU) has gained access to valuable data that it uses to sell higher-margin products to customers, therefore, generating higher returns. The digital financial services company delivered record fourth-quarter results with growth across all metrics. Its customer base grew by 38% to 20.7 million as net income grew to $58 million, as revenue increased 168% to $1.45 billion and $4.8 billion for the year.

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