Nubank was granted associate membership in Febraban, the Federation of Brazilian Banks, after a unanimous decision by Febraban’s Board at their first regular meeting of 2026.
This association, as recommended by board member Milton Maluhy Filho, will enable Nubank to engage in key decision-making processes and strategic discussions on institutional matters within the federation.
The move underscores Nubank’s ambitions for obtaining a full banking license in Brazil. The company boasts a substantial customer base of 113 million individuals in Brazil, over 60% of the country’s adult population, with an even broader reach globally to more than 131 million customers. In financial terms, Nubank reported revenues of USD 16.3 billion and net income of USD 2.9 billion for the year 2025.
Background and Rationale
Nubank has established itself as a major digital financial services platform over its 12-year history, operating through a technology-driven, fully digital business model. The company claims to have brought financial inclusion to 29 million Brazilians while maintaining one of the lowest complaint rates in the industry, according to rankings by the Central Bank of Brazil.
By joining Febraban, Nubank enhances its institutional outreach beyond existing participation in associations such as Zetta, ABBC, and ANBIMA. Membership with Febraban offers access to higher-level policy and regulatory forums within the Brazilian banking sector, traditionally dominated by established financial institutions.
The admission of Nubank into Febraban aligns with a broader trend towards inclusivity and diversity in Brazil’s financial landscape as it continues to incorporate digital-native entities on a larger scale.
In response to this development, Isaac Sidney, CEO of Febraban, noted that the new member’s involvement demonstrates commitment to constructive dialogue within the industry. Livia Chanes, Nubank’s CEO for Brazil, highlighted that this partnership bolsters Nubank’s role in enhancing financial system resilience while continuing to simplify customer experiences.
