Key Facts
—The pledge. Nubank plans to invest about $4.2bn in Mexico over 2026 to 2030, confirmed at a July 6 meeting with President Sheinbaum.
—The scale. Nubank has almost 14 million customers in Mexico and began operating there as a full bank in 2026.
—The doubt. Bank of America cut the stock to underperform and lowered its price target from $16 to $10.
—The trigger. The downgrade followed the exit of finance chief Guilherme Lago and worries about Brazilian credit.







