Nubank’s AI Risk Model Fuels Q3 Credit Growth as Mexico Deployment Nears

The company prioritizes long-term scale in Mexico despite saying it could switch to profitability immediately.

Overview

Nubank said new AI-driven credit analysis raised card limits for some customers and supported a 42% jump in the interest-earning portfolio to US$30.4 billion.
Adjusted net income reached US$829 million for the quarter, topping analyst estimates cited by Bloomberg.
The upgraded risk model is live in Brazil for credit cards and is slated to start guiding credit decisions in Mexico by December, with later use in initial customer approvals.
Brazilian loans over 90 days past due fell to 6.8% in Q3, while the customer base grew to 127 million, including 13.1 million in Mexico.
Nubank applied for a U.S. banking license in late September and hired Michael Rihani as head of crypto to expand digital-asset offerings.