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Stock impact report

Is Nu Holdings Stock a Buy? [Yahoo! Finance]

Nu Holdings Ltd. (NU) 
Company Research Source: Yahoo! Finance
The Brazilian fintech has taken investors on a volatile ride since its 2021 initial public offering (IPO) as it grapples with growth in the emerging-market economy. In the last year, Nu stock has surged 53% higher. As Nu aims to replicate its success across other regions of Latin America, is now the time to buy? Solving Brazil's banking problem For years, Brazilians grappled with a broken banking system that saw five banks control 80% of Brazil's financial-system assets. Operating as an oligopoly, these banks charged customers outrageous fees, which former Brazilian finance minister Paulo Guedes called a "cartel" that demanded "absurd" interest rates on loans. Just four years ago, credit card rates in Brazil were as high as 160% annually, while personal loans commanded interest rates of 100%. The wide gap between loans to customers and Brazil's benchmark interest rate made the country's banking system one of the most profitable in the world, according to S&P Global . However, i Show less Read more
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