In the commercial market, Nubank becomes the second largest bank in Brazil

Last Tuesday, the 23rd, the virtual bank Nubank achieved a significant achievement in becoming the second largest bank in Brazil in terms of market value, surpassing even Bradesco, Banco do Brasil and Santander.

Despite the achievement of becoming the second largest bank in Brazil in terms of market value, Nubank is still far from Itaú, which has a value of US$ 49.1 billion. This year, the digital bank reached the mark of US$ 32 billion.

The distance is significant between the first (Itaú) and second place (Nubank), but it is an important milestone for the company, as it is ahead of traditional companies in the Brazilian market.

After Nubank, Bradesco has an approximate market value of US$31.5 billion, followed by Banco do Brasil, with US$25.5 billion, and Santander, with US$21.6 billion.

Nubank goes into recovery and reaches a new level

Nubank is in a recovery process, outperforming established traditional banks, after facing a drop in its shares since its IPO on the New York Stock Exchange.

At the close of last Tuesday, Nubank shares ended the trading session at US$ 6.85, resulting in a market value of the bank that exceeded US$ 32 billion (approximately R$ 159.4 billion). This year alone, Nubank's shares increased by 92%.

Although it has not yet reached the status of the largest bank in Latin America, like Itaú, Nubank has shown remarkable growth. The digital bank has doubled its market value and surpassed some of the main traditional banks in the country since reaching its minimum price in June 2022.

The positive operating results in recent quarters were one of the factors that contributed to Nubank's recovery. This improvement in results has changed analysts' perspectives on the bank.

In addition, strategic changes, such as the hiring of investor relations specialists and compensation adjustments, also played a significant role in this recovery process.

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