One of the largest digital banks in the world, Nubank, had its projections made by specialists from Itaú BBA, but the results were not so good for the company. The institution, founded and led by businessman David Vélez, is in danger due to falling profits.
Read more: All about Nunos, NUBANK's new relationship program
see more
Large Brazilian banks, such as Bradesco and Caixa, are the target of malware…
Alert: these are the dangers of paying the minimum on your credit card bill…
The bank's profit estimate made by Itaú BBA specialists fell from 3.1 billion dollars to 2.6 billion dollars billion for next year, also down from $4.5 to $3.5 in stock value for the same year. In view of this analysts' assessment, it is not at all attractive and the earnings calculation, in principle, will remain negative. It is also worth noting that the fintech ended up losing approximately 60% of its market value since its IPO was launched in December last year.
In short, Itaú BBA specialists reduced Nubank's target value by 1 dollar, as we mentioned earlier, lowering it from 4.5 to 3.5. However, there is also a chance of falling another 22% due to the results of the last closing announced by the report sent to clients.
Thus, the bank reduced the period stipulated for the write-off of credit for personal loans that were in arrears, from 360 days to around 120 days only. But the low for the category of credit cards remains the same, 360 days. According to the information provided by the financial institution, what is used to justify this change is the IFRS (International Financial Reporting Standards), which considers the potential for recovery of credits already overdue.
Finally, apart from the bad situation that Nubank is facing, we have some other digital banks that are increasingly growing in Brazil, and today it is already possible to find many possibilities of institutions to have your account digital. Check below some of the best names already available in the Brazilian market:
Lover of movies and series and everything that involves cinema. An active curious on the networks, always connected to information about the web.
