Nubank surpasses Santander in number of customers in Brazil

In the first nine months of 2022, digital banks won more customers than banks considered “traditional”, with physical branches. Thus, Nubank was the highlight, which gained the most new users in the period (14.9 million) and thus surpassed Santander in terms of total customers.

In short, the Swiss bank UBS made a report based on data released by the Central Bank and found that Brazilian banks opened 111 million new accounts this year (taking into account a person can have more than one account in different banks), with of this total, traditional banks accounted for 14%, while digital banks accounted for 40%.

number of customers

According to the UBS survey, Nubank reached 64.8 million customers by September. In addition to the 66 million customers in Brazil, the digital bank claims to have 70 million customers in Mexico and Colombia. Santander Brasil has 61 million customers.

In addition, the survey also pointed out that Caixa Econômica Federal has 148.3 million customers, the highest number, followed by Bradesco (101.8 million), Itaú (95.5 million) and Banco do Brasil (73.6 million ).

Thus, among digital banks, Nubank ranked first, followed by Original (42.2 million), Mercado Pago (39.4 million), PagBank (25.9 million) and C6 Bank (21.3 million).

biggest banks

Currently, together, the five largest traditional banks have 480.1 million customers, which corresponds to 53% of banking customers in Brazil. So they gained 16 million new customers in the first nine months of the year. Thus, Itaú led the number of new additions with 5.2 million new customers, followed by Santander Brasil with 4.1 million and in third place was Bradesco with 1.9 million new additions.

The five main digital banks together have 193.7 million customers, that is, 21% of the country’s total customers. Nubank gained 15 million new customers in the first nine months of the year. C6 Bank, Inter and BTG Pactual/Pan, together, gained 21 million customers. Therefore, taking into account all institutions, the total number of current accounts reached 910 million by September.

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