Latin America Financials: Citi’s Daily Statement – 2026.07.21 – Nubank Banking License Acquisition; CSD BR Expanding Operations; Credicorp Update

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Latin America Financials: Citi’s Daily Statement – 2026.07.21 – Nubank Banking License Acquisition; CSD BR Expanding Operations; Credicorp Update

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21 Jul 2026 08:31:58 ET │ 10 pages

Latin America Financials

Citi’s Daily Statement – 2026.07.21 – Nubank Banking Lincense

Acquisition; CSD BR Expanding Operations; Credicorp Update

CITI'S TAKE

Daily report over key topics of LatAm financial companies under Citi’s

coverage.

Gustavo SchrodenAC

Nubank Acquires Porto Real to Obtain a Banking License in Brazil (Valor, Jul 20) +55-11-4009-5858

gustavo.schroden@citi.com

Nubank announced the acquisition of 100% of Banco Porto Real de Investimentos, a Arnon Shirazi, CFA

transaction primarily aimed at obtaining a full banking license in Brazil, subject to +55-11-4009-7906

Central Bank approval. The move follows a 2025 regulation requiring financial arnon.shirazi@citi.com

institutions to hold the appropriate authorization to use banking-related terms in

Brian Flores, CFA

their branding, allowing Nubank to retain the “bank” designation in its name.

+55-11-4009-2842

Management stated that the acquisition will not require additional capital or luis.brian.flores@citi.com

liquidity, nor will it change the company’s strategy, products, services, or customer

experience.

CSD BR Expands Into Equities Trading (Valor Investe, Jul 21)

CSD BR plans to launch bilateral trading of B3-listed equities by year-end,

advancing its strategy to become an alternative exchange in Brazil. The company has

gained significant traction in swaps, reaching roughly 50% market share and more

than doubling cleared volumes since May. Management believes greater

interoperability and the recent CADE recommendation against B3 could accelerate

competition and liquidity in Brazil’s capital markets.