Nu México debuts as a bank with 6.79% NPL ratio, lower than other neobanks
Nu México reported a 6.79% non-performing loan ratio in its first month as a bank, lower than Openbank and Ualá but above the system average. Here are the figures.
Nu México closed August, its first month as a bank, with a non-performing loan ratio (IMOR) of 6.79%, below Openbank (11.49%), Ualá (10.63%) and Plata (6.98%), but above the 2.29% average for the banking system. The data, as of August, comes from the Comisión Nacional Bancaria y de Valores (CNBV) and was reported by Expansión on October 16, 2026.
The Brazilian-owned bank had operated as a sofipo since 2022 and began operating as a multiple-banking institution on August 6, 2026, after receiving authorization from the CNBV. The change of regime is not cosmetic for an SME: it implies stricter supervision, capital requirements and entry into IPAB deposit insurance. The CEO reported on the same October 16 that Nu debuted in 24th place by assets among 54 banks, with 112,638 million pesos. That size already makes it a price and risk benchmark in digital consumer credit, the same credit many operators use to finance inventory or working capital.
The breakdown shows where the risk is concentrated: 8.37% in personal loans and 6.46% in credit cards. The consumer loan book totaled 32,966 million pesos, of which 27,497 million correspond to cards and 5,473 million to personal loans. Total assets reached 112,638 million, equivalent to 0.68% of the banking system, and liabilities 100,259 million. In August, comprehensive income was 399 million pesos. The banking sector accumulated 195,292 million pesos in profits between January and August, a 13% real annual decline, according to Expansión. In parallel, Nu announced that Estephany Paulette Ley will become CEO in November, replacing Armando Herrera, and that Rodrigo Kuri will chair the board of directors.
The next data point to watch is the IMOR for September and October: if delinquency holds steady while the loan book grows, the collections model sustains the scale; if it rises, the cost of consumer credit adjusts first for profiles with less credit history. That is where an operator with financed inventory feels the change before it shows up in the bank's advertising.
This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.