Latin America Financials: Citi‘s Daily Statement – 2026.07.16 – B3 June data; NU‘s LatAm CEO; Banks and Non-Banks 2Q26 Previews

研报英文原文证据摘录

Latin America Financials: Citi‘s Daily Statement – 2026.07.16 – B3 June data; NU‘s LatAm CEO; Banks and Non-Banks 2Q26 Previews

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16 Jul 2026 08:19:43 ET │ 10 pages

Latin America Financials

Citi’s Daily Statement – 2026.07.16 – B3 June data; NU's LatAm CEO;

Banks and Non-Banks 2Q26 Previews

CITI'S TAKE

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

coverage.

Gustavo SchrodenAC

B3 releases its June 2026 operational data (Company filing, Jul 15) +55-11-4009-5858

gustavo.schroden@citi.com

Citi’s Take: Cash equity ADTV ended June at R$28.2bn,+15% y/y, and -7% m/m, Arnon Shirazi, CFA

similar to our expectation (see: B3 - Volumes Continue to Decelerate: June Cash +55-11-4009-7906

Equity ADTV Estimated at R$28.6bn (+17% y/y; -6% m/m…). Turnover velocity arnon.shirazi@citi.com

decreased to 143%, -4 p.p. m/m. In the Derivatives segment, ADV was up 15% m/m

Brian Flores, CFA

and 3% y/y, though partially compensated with revenue per contract decreasing 3%

+55-11-4009-2842

m/m. luis.brian.flores@citi.com

Nubank promotes Livia Chanes for LatAm CEO (Valor, Jul 15)

Citi's Take: Nubank announced a reorganization of its Latin American operations

and promoted Livia Chanes to CEO of Latin America, while she continues to lead the

Brazilian business. Under the new structure, the heads of Nubank’s operations in

Mexico and Colombia will report directly to her, although local teams will retain

operational autonomy.

Brazil Diversified Banks - 2Q26 Playbook: Heterogeneous quarter; prefer ITUB,

BBDC, NU

Citi's take: We anticipate a heterogenous 2Q26 for Brazilian banks, where resiliency

in a tougher macro environment will be the key differentiator. We expect solid results

from Itaú Unibanco and Bradesco, while Nubank should see a one-off boost from