Nubank closes trading session as the most valuable bank in Latin America

On Tuesday (28), Nubank (ROXO34) closed the trading session as the most valuable bank in Latin America, surpassing Itaú (ITUB4) for the first time in two years. This came about due to the IPO on Wall Street in 2022, when the bank was already approaching its rival in market value. And also combined with the strong performance in the fourth quarter and exponential growth in Mexico, when Fintech shares rose, consolidating the forecast of analysts who projected the roxinho as the most valuable bank in Latin America.

Nubank accumulates market value

Nubank's leadership has stood out since the beginning of last year, with an increase of almost 47% in the value of its shares in fintech. Nubank even surpassed Vale in market value on B3 and received an additional boost from the increase in shares on Wall Street, with BDRs rising 51.45%.

Duel of the titan: Nubank X Itaú

Nubank on Friday (24) surpassed Itaú in market value for the first time at the close of trading, which during the day was valued at US$56.19 billion, which corresponds to R$290.52 billion, while Itaú came in second place with R$289.26 billion, a difference of approximately R$1.26 billion.

On Tuesday (28), for the second time, Nubank (ROXO34) surpasses Itaú (ITUB4) and wins, for the first time, the closing of the trading session as the most valuable bank in Latin America, valued at US$58 billion, while its rival closed valued at US$56 billion. And its shares, on that same day, rose 3.8% while Itaú's shares fell 0.54%.

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_{Financial professionals work on the floor of the York Stock Exchange – NYSE (Photo: reproduction/ Drew Angerer/Getty Images Embed)}

Due to the IPO on Wall Street in 2022, Nubank was increasingly approaching its competitor in terms of market value, with a “technical tie” when valued at US$58.3 billion, just 2% of difference behind Itaú which reached around US$59.3 billion, according to a BTG report in early April.

Given the strong performance of the roxinho in the fourth quarter, combined with the prominence of growth in Mexico, Fintech shares gained momentum on Wall Street. This appreciation of the bank, 100% digital, contributed to surpassing Itaú in the market value ranking, consolidating the forecast of analysts who projected Fintech as the most valuable bank in Latin America.

Featured Photo: The Nubank logo on a smartphone (Reproduction/Alejandro Cegarra/Bloomberg/ Getty Images Embed)