Nubank became the fifth largest Brazilian bank in number of customers. The customer ranking was prepared by the UBS Group with data released by the central bank. As a result, fintech overtakes Santander and “isolating itself in the leadership” among the new banks in the country.
To calculate the largest banks in Brazil, UBS Group, a financial services company, used the data disclosed in the complaints ranking of the Central Bank. In the list of complaints, Nubank had the lowest rate among the top 15 banks.
Nubank surpasses Santander and glues to Banco do Brasil
To publish the ranking of complaints, Bacen uses two databases: the National Financial System Customer Register (CCS) and the Central Bank Credit Information System (SCR). All these data consider the number of customers on the last day of the second month of the reference quarter. However, the CCS considers active customers in the institution, while the SCR takes into account customers with active operations. Bacen counts only different CPFs and CNPJs.
In the list released by UBS, the Nubank has 64.8 million customers in Brazil, taking the fifth place as the bank with the largest number of customers. Close behind is Santander (61 million). Banco do Brasil is in fourth place with 73.6 million customers, 8.8 million more than Nubank — a relatively small difference when looking at the next data.
Fintechs are acquiring customers faster than traditional banks. This year, Nubank gained 14.9 million customers. In addition, adding only the first five banks on the list, there are almost 480 million bank accounts – reinforcing that customers, for various reasons, tend to create accounts in more than one bank.
On its official website, Nubank also revealed that, adding up operations in Mexico and Colombia, it has 70 million customers.
Unsurprisingly, the Caixa Econômica Federal remains the largest bank in terms of number of customers (148.3 million). Followed by Bradesco (101.8 million) and Itaú (95.5 million).
Fintech has more reason to celebrate
Nubank also maintains its leadership, with a large advantage, among fintechs and newer banks. Banco Original, founded in 2011, is the second largest bank in this regard (42.2 million). Close behind is Mercado Pago (39.4 million), followed by Pag Bank (25.9 million) and C6 (21.3 million).
In the ranking of complaints, Nubank had the lowest rate among the 15 largest banks. The Central Bank creates the list based on valid complaints, made through the BC itself — negative comments on social media are not counted.
With information: Economic value and Nubank