Latin America's leading digital financial institution, Nubank, has reached an agreement to acquire Banco Porto Real de Investimentos S/A in Brazil to secure a banking license, ensuring compliance with new central bank regulations.
This acquisition is designed to adhere to Resolution No. 17, jointly issued by the Central Bank of Brazil and the National Monetary Council. The resolution mandates that financial institutions using the word "bank" in their corporate names must hold the corresponding banking license. The new rule was approved in November 2025, granting financial institutions a one-year transition period to complete compliance adjustments by November 2026.
Banco Porto Real was founded in 1992 and is based in the state of Rio de Janeiro. It primarily engages in credit operations for wholesale clients. As of March 2026, the bank had assets of approximately 32.1 million reais, net equity of 31.4 million reais, and a credit portfolio of 9.6 million reais. The bank is owned by Luiz Eduardo Tarquínio Monteiro da Costa, an heir to the former Brazilian Coca-Cola bottler, Companhia Fluminense de Refrigerantes.
Upon completion of the acquisition, Porto Real's banking license will be integrated into Nubank's existing Brazilian portfolio, which already includes licenses for payment institutions, credit financing and investment companies, and securities brokerages. Nubank stated that the new license will not impose additional capital or liquidity requirements and will have no impact on the app, products, services, brand, or institutional name for its more than 115 million customers in Brazil.
Nubank founder and global CEO David Vélez said, "Brazil is where Nubank was born, grew, and proved it is possible to provide fairer, simpler financial services at scale. Thirteen years later, it remains our primary market where we can still significantly expand our share and continue transforming the industry." Latin America CEO Livia Chanes added that the company's innovative DNA remains unchanged and it is committed to deepening customer relationships and providing more solutions.
The transaction is still pending approval from the Central Bank of Brazil. Previously, Nubank joined the Brazilian Federation of Banks in March 2026 and announced a 45 billion reais investment in the Brazilian market this year, approximately double the total of the past two years.
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