Nu Holdings (NU) Stock Overview
Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 5/6 |
| Past Performance | 5/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
No risks detected for NU from our risk checks.
NU Community Fair Values
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Analyst Price Targets
Top Community Narratives
Nu Holdings Ltd. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$15.23 |
| 52 Week High | US$18.98 |
| 52 Week Low | US$11.20 |
| Beta | 0.94 |
| 1 Month Change | 12.07% |
| 3 Month Change | 23.92% |
| 1 Year Change | 14.25% |
| 3 Year Change | 107.21% |
| 5 Year Change | n/a |
| Change since IPO | 47.43% |
Recent News & Updates
Narrative Update • Aug 16
NU: Latin American Banking Licenses Will Support Long-Term Earnings Potential
Analysts have adjusted their fair value estimate for Nu Holdings stock from $22.00 to $23.00, reflecting updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What’s in the News for Nu Holdings Nu Holdings reported Q2 2026 net profit of US$1.06b, which was above analyst estimates, with management linking the result to higher revenue and stronger risk adjusted net interest margins.Seeking Alpha • Aug 14
Nu Holdings Q2: The First Billion-Dollar Quarter Deserves A Buy Rating
Summary NU Holdings (NU) delivered record Q2 2026 results, surpassing $1 billion in net income and achieving 39% YoY revenue growth with strong operational efficiency. NU's customer base expanded to 139 million, with rising activity rates and monthly revenue per active user up 22% YoY, while cost per user remains just $1. Risk-adjusted profit margin soared to 12.4%, driven by high-yielding credit products and effective risk management, outpacing traditional and fintech peers. I maintain a Buy rating on NU, citing exceptional growth, robust profitability, and prudent expansion strategy, with plans to trim at ~$18 per share. Read the full article on Seeking Alpha
Narrative Update • Jul 25
NU: Banking License Expansion Will Eventually Expose Credit Quality And Margin Risks
Analysts have modestly lifted their price target on Nu Holdings to $12.17 from $11.91. This reflects updated assumptions around discount rates, revenue, profit margins, and future P/E multiples.Recent updates
Narrative Update • Aug 16
NU: Latin American Banking Licenses Will Support Long-Term Earnings Potential
Analysts have adjusted their fair value estimate for Nu Holdings stock from $22.00 to $23.00, reflecting updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What’s in the News for Nu Holdings Nu Holdings reported Q2 2026 net profit of US$1.06b, which was above analyst estimates, with management linking the result to higher revenue and stronger risk adjusted net interest margins.Seeking Alpha • Aug 14
Nu Holdings Q2: The First Billion-Dollar Quarter Deserves A Buy Rating
Summary NU Holdings (NU) delivered record Q2 2026 results, surpassing $1 billion in net income and achieving 39% YoY revenue growth with strong operational efficiency. NU's customer base expanded to 139 million, with rising activity rates and monthly revenue per active user up 22% YoY, while cost per user remains just $1. Risk-adjusted profit margin soared to 12.4%, driven by high-yielding credit products and effective risk management, outpacing traditional and fintech peers. I maintain a Buy rating on NU, citing exceptional growth, robust profitability, and prudent expansion strategy, with plans to trim at ~$18 per share. Read the full article on Seeking AlphaNarrative Update • Jul 25
NU: Banking License Expansion Will Eventually Expose Credit Quality And Margin Risks
Analysts have modestly lifted their price target on Nu Holdings to $12.17 from $11.91. This reflects updated assumptions around discount rates, revenue, profit margins, and future P/E multiples.Narrative Update • Jul 11
NU: Credit Quality And Margin Strains Will Limit Long Term Upside Potential
Analysts have slightly reduced their price target for Nu Holdings to about $11.91 from roughly $12.51, reflecting updated assumptions on the discount rate, revenue growth, profit margin, and future P/E expectations. What’s in the News for Nu Holdings Nu Mexico received authorization from the National Banking and Securities Commission to begin operating as a bank, consolidating Nu Holdings’ fully digital, customer focused model in Mexico under direct supervision of local regulators.
Narrative Update • Jun 27
NU: US Bank Charter And AI Expansion Will Support Long-Term Upside
Analysts have revised their price target for Nu Holdings to $17.82 from $19.99, reflecting updated assumptions for slightly lower revenue growth, a reduced profit margin outlook, a modestly lower discount rate, and a lower future P/E multiple. What’s in the News for Nu Holdings Nu Holdings reported record Q1 2026 results with revenue above US$5b and net income of US$871 million, supported by its NuFormer AI foundation models and AI Private Banker platform improving credit decisions and customer engagement across Latin America.Analysis Article • Jun 19
Nu Holdings (NU) Stock Could Be 44.1% Undervalued After Its AI Banking Push
Nu Holdings (NYSE:NU) drew fresh attention after unveiling two AI powered financial models, including the NuFormer digital assistant and a future AI Private Banking suite, aimed at sharpening credit decisions and tailoring customer services. See our latest analysis for Nu Holdings. At a share price of $12.71, Nu Holdings has seen 7 day share price momentum of 5.13% but a year to date share price decline of 25.32%, while the 3 year total shareholder return of 69.69% contrasts with a far softer...Narrative Update • Jun 13
NU: US Charter AI Expansion And Buybacks Will Frame Balanced Future Upside
Analysts have revised their price target on Nu Holdings from $15.30 to $12.51. They adjusted assumptions around revenue growth, profit margin, and future P/E expectations, while keeping the discount rate broadly similar.
Narrative Update • Jun 10
CFO transition and a context of total uncertainty: value continues to be generated
When this analysis was published on May 24 at $12.73 per share, the thesis was straightforward: a structurally superior business trading at a historically compressed multiple. In the sixteen days since, four distinct macro and company-specific events have converged to push the stock further down to $11.88 — creating, in this view, a wider margin of safety rather than a deteriorating investment case.Narrative Update • May 30
NU: US Banking Charter Will Shape Future Upside Despite Modest Assumption Shifts
Analysts have trimmed their fair value estimate for Nu Holdings from $15.98 to $15.30 as they now apply a slightly higher discount rate, slightly lower revenue growth and profit margin assumptions, and a more conservative future P/E multiple. Valuation Changes Fair Value: trimmed slightly from $15.98 to $15.30 per share.New Narrative • May 24
Investment Analysis (May 2026)
Three key ideas before starting Before diving into the details, it is useful to establish three core conclusions that structure the entire analysis. The first is that Nu Holdings is currently trading at a historically low multiple relative to its growth profile.Narrative Update • May 03
NU: US Banking Charter Will Shape Balanced Future Risk And Reward
Analysts have slightly reduced their price target on Nu Holdings from about $16.19 to $15.98, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E that are now reflected in their models. Valuation Changes Fair Value: reduced slightly from $16.19 to $15.98 per share.Narrative Update • Apr 18
NU: US Bank Charter Progress Will Support Long-Term Earnings Potential
Analysts kept their average price target for Nu Holdings unchanged at $22.00. They made small adjustments to underlying assumptions such as revenue growth, profit margin, discount rate, and future P/E, which resulted in no change to the overall target.Narrative Update • Apr 04
NU: US Banking Charter Will Drive Future Upside Potential
Analysts have lowered their price target on Nu Holdings to about $16.19 per share from roughly $17.20. This adjustment reflects updates to revenue growth, profit margin, discount rate, and future P/E assumptions in their models.Narrative Update • Mar 21
NU: US Bank Charter And F1 Partnership Will Support Long-Term Earnings
Analysts kept their $22.00 price target for Nu Holdings unchanged, citing updated assumptions that include a lower discount rate, a revised revenue growth outlook, a higher profit margin and a lower future P/E multiple. What's in the News Nu received conditional approval from the US Office of the Comptroller of the Currency to form a de novo national bank, Nubank, N.A., moving into the bank organization phase that includes meeting OCC conditions and obtaining additional approvals from the FDIC and the Federal Reserve (Regulatory Authority – Compliance).Narrative Update • Mar 06
NU: US Banking Approval And F1 Partnership Will Support Upside Potential
Analysts have nudged their price target on Nu Holdings to $17.20 from $17.00, reflecting updated assumptions on discount rates, revenue growth, profit margin and a higher future P/E multiple. What's in the News Nu received conditional approval from the US Office of the Comptroller of the Currency to form a de novo national bank, Nubank, N.A. This is a key step toward offering deposit accounts, credit cards, lending and digital asset custody under a US federal banking framework (Key Developments).
New Narrative • Feb 22
Nu holdings will continue to disrupt the South American banking market
Two years ago i bought Nu at $11. Now there were two main things which gave me conviction.Narrative Update • Feb 20
NU: US Bank Charter Progress Will Support Bullish Long Term Outlook
Analysts have kept their average $19.99 price target for Nu Holdings effectively unchanged, with only marginal tweaks to the discount rate, revenue growth, profit margin expectations, and future P/E inputs reflected in their latest models. What's in the News Nu received conditional approval from the US Office of the Comptroller of the Currency to form a new national bank, Nubank, N.A., moving the company into the bank organization phase and closer to operating under a federal banking framework in the United States (Regulatory Authority, Compliance).Narrative Update • Feb 06
NU: US Bank Charter Progress Will Shape Bullish Long Term Outlook
Analysts have lifted their price target on Nu Holdings to US$19.99 from US$18.43, citing revisions to fair value assumptions, a lower discount rate, and updated views on revenue growth, profit margins, and future P/E levels. What's in the News Nu received conditional approval from the US Office of the Comptroller of the Currency to form a new national bank, Nubank, N.A., which would allow it to offer deposit accounts, credit cards, lending and digital asset custody in the United States once fully approved (Regulatory Authority – Compliance).Narrative Update • Jan 23
NU: Fair Outlook As Global Racing Partnership Aims To Lift Brand Profile
Analysts have raised their price target for Nu Holdings from US$9.35 to US$17.00, citing updated expectations for revenue growth, profit margins and a slightly higher assumed future P/E multiple. What's in the News Nu and the Mercedes-AMG PETRONAS F1 Team agreed to a new multi-year partnership, with Nu becoming an Official Team Partner ahead of the 2026 FIA Formula One World Championship Season.Narrative Update • Jan 08
NU: U.S. Bank Charter Pursuit Will Support Long-Term Earnings Power
Analysts have maintained their fair value estimate for Nu Holdings at $22.00, citing updated assumptions that include slightly different revenue growth, profit margin, discount rate, and future P/E expectations. Valuation Changes The fair value estimate remains unchanged at $22.00 per share, reflecting updated assumptions without altering the overall valuation outcome.Narrative Update • Dec 16
NU: U.S. Bank Charter Pursuit Will Support Long-Term Earnings Power
Analysts have raised their price target on Nu Holdings from 20 dollars to 22 dollars per share, citing expectations for stronger revenue growth and a modestly higher future earnings multiple, which are partially offset by slightly lower projected profit margins. What's in the News Nubank has applied for a national bank charter with the U.S. Office of the Comptroller of the Currency (OCC), aiming to evolve its regional Latin American platform into a global model and expand its presence in the U.S. market (company announcement).Narrative Update • Dec 02
NU: U S Bank Charter Efforts And International Expansion Will Shape Outlook
Nu Holdings saw its average analyst price target rise slightly from $17.98 to $18.43 per share, as analysts cited ongoing growth expectations despite some moderation in profit margin forecasts. What's in the News Nubank has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC) in the United States.Narrative Update • Nov 18
NU: Expansion Into U S Banking Will Drive Future Upside
Narrative Update: Nu Holdings Analyst Price Target Analysts have raised their price target for Nu Holdings from $17.46 to $17.98 per share, citing expectations of stronger revenue growth and updated financial model assumptions. What's in the News Nubank has applied for a national bank charter with the U.S. Office of the Comptroller of the Currency.Narrative Update • Nov 04
NU: Expanding U.S. And Mexico Banking Moves Will Shape Global Platform
Analysts have slightly raised their price target for Nu Holdings from $17.29 to $17.46 per share, citing improved profit margin forecasts, which more than offset a modest decrease in projected revenue growth. What's in the News Nubank has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC) in the United States.Narrative Update • Oct 20
Latin America's Digital Shift Will Drive Financial Service Expansion
Analysts have raised their price target on Nu Holdings from $16.99 to $17.29 per share. They cited modest improvements in profit margin and a slight reduction in the discount rate as key drivers for the upward revision.Narrative Update • Aug 25
Latin America's Digital Shift Will Drive Financial Service Expansion
The upward revision in Nu Holdings' consensus price target reflects improved analyst expectations for revenue growth (rising from 71.6% to 77.9% per annum), despite a slight decline in net profit margin, resulting in an increased fair value estimate from $15.47 to $16.36. What's in the News Dropped from Russell Midcap Growth Benchmark and Russell Midcap Growth Index.Seeking Alpha • Apr 23
Why Nu Holdings Is Attractive At Current Levels
Summary Nu Holdings, a leading digital financial services platform in Latin America, is trading at attractive levels with significant growth potential in existing and new markets. Despite temporary setbacks in Q4 2024, including FX headwinds and a sequential ARPAC decline, the underlying business remains strong with healthy customer growth and stable credit risk metrics. FX headwinds are subsiding, potentially boosting reported growth rates. The main risks include global tariff wars and increased competition impacting growth and loan performance. Read the full article on Seeking AlphaSeeking Alpha • Mar 25
Nu Holdings: Short-Term Forex Drag, Long-Term Profit Machine
Summary Nu Holdings missed revenue expectations in Q4, with slower customer growth and slight profitability declines. FX headwinds were a major factor, impacting net interest margins and ARPAC. Nu Holdings still has lots of growth ahead, with a less-than-4% market share and a relatively underbanked population in Latin America. Despite short-term issues, Nu maintains a 32% adjusted annualized ROE and has ample capital to deploy, which can help support ROE and net interest margins over time. A long growth runway, high profitability, and a reasonable valuation make me bullish on NU stock. The US Dollar has weakened since Q4 2024, which can help NU, although FX headwinds are still real and shouldn't be ignored. Read the full article on Seeking AlphaSeeking Alpha • Feb 21
Nu Holdings: Reasons For The Q4 Miss Are Critical & Mercado Pago Competition Worries
Summary Nu Holdings reported Q4 results missing expectations, causing an 8% pre-market share drop, primarily due to significant FX impact, controlled growth, and competition. Despite short-term pressures, Nu's long-term growth potential remains strong, with a proven formula and only 4% of Latin America's TAM captured. Nu's valuation at 22x forward earnings and 0.8x PEG ratio remains highly attractive, but the near-term trajectory is murky. I downgrade Nu to a 'Buy' due to near-term FX headwinds and advise gradual position building. Read the full article on Seeking AlphaSeeking Alpha • Jan 25
Nu Holdings: The Noise Is Real, But So Is The Potential (Rating Upgrade)
Summary Nu Holdings faces macroeconomic risks, including high interest rates, currency devaluation, and potential rising delinquency rates in Brazil. Despite challenges, Nu's strong brand, 100M+ customers, and cross-selling opportunities support long-term growth potential. Nu Holdings' premium valuation is justified by efficient execution, robust growth prospects, and a scalable business model. Read the full article on Seeking AlphaSeeking Alpha • Dec 23
Nu Holdings: A Warren Buffett-Style Fat Pitch You Should Be Swinging At
Summary Nu Holdings, founded in 2013, now serves 110 million customers across Brazil, Mexico, and Colombia, capturing 56% of Brazil's adult population. Despite a 24% YTD stock increase, NU remains 29% below its October highs, presenting a compelling investment opportunity given its strong Q3 2024 results. Nubank showcases some of the best unit economics in public markets through compounding cross-selling opportunities to clients. I estimate a fair value of $22.69/share, which is more than double the current price. Read the full article on Seeking AlphaSeeking Alpha • Dec 16
Nu Holdings: User Growth And Expanding Product Offerings Make It A Buy
Summary Nubank's rapid growth and exceptional unit economics, with 110 million customers and low acquisition costs, highlight its potential to become a superapp in LATAM. Despite economic, geopolitical, and currency risks, I believe Nubank has significant upside over the next 10 years. Expansion into Mexico and potential entry into Argentina and other markets present huge opportunities for revenue growth and diversification. Mature customer cohorts show significantly higher revenue contributions, indicating further runway. Read the full article on Seeking AlphaSeeking Alpha • Nov 21
Nu Holdings' Growth Potential Outweighs Brazilian Economic Woes
Summary The company reported solid Q3 2024 earnings on November 13, but investor sentiment remains cautious due to interest rates rising in Brazil. Long-term investment in Nu Holdings remains compelling, driven by its robust business model and growth potential in the Latin American online banking sector. Nu Holdings' credit expansion strategy and solid financial performance underpin my continued buy rating despite short-term market volatility. Read the full article on Seeking AlphaSeeking Alpha • Oct 26
Nu Holdings: A Formidable CEO Interview And New Risks
Summary CEO insights on Argentine market potential and Brazil growth avenues are promising. Executives' execution ability remains strong, reinforcing confidence in the Nu Holdings' strategic direction. Despite the positive outlook, the current valuation lacks margin of safety for a buy recommendation. Read the full article on Seeking AlphaSeeking Alpha • Sep 23
Nu Holdings Stock Still Growing, But Valuation Raises Red Flags (Rating Downgrade)
Summary Nu Holdings remains a solid investment, but its 20% stock price increase has eroded its margin of safety, making it less attractive. Despite impressive Q2 earnings and strong customer growth, Nu Holdings' premium valuation at nearly 30x earnings reduces its attractiveness compared to peers like Inter & Co. Inter & Co, while smaller and riskier, offers greater value with ambitious growth targets and a significantly lower valuation at 14x earnings. Considering Nu Holdings' high valuation and macroeconomic risks, I rate it a 'hold,' while Inter & Co offers a more compelling alternative. Read the full article on Seeking AlphaSeeking Alpha • Sep 15
Nu Holdings: Arguably The Best Unit Economics In Public Markets
Summary Nu Holdings has nearly doubled since my December 2023 article, and shares are up 80% YTD. The company's hyper-growth trajectory and still undemanding valuation make it a compelling investment opportunity even after the recent rise. Nu showcases extremely attractive unit economics, with low customer acquisition costs, compared to very high lifetime value. Investors will do well by ignoring their bias and adding Nu to their portfolio. Read the full article on Seeking AlphaSeeking Alpha • Aug 22
Nu Holdings Expands AI Capabilities To Revolutionize Banking Services
Summary The company is now an "AI-first" company after recently acquiring Silicon Valley-based Hyperplane. The company's recently reported second-quarter 2024 earnings show the thesis for investing in Nu Holdings is still on track. The valuation of the stock is still reasonable. Read the full article on Seeking Alpha
New Narrative • Aug 19
Expanding In Brazil And Mexico Powers Revenue Surge And Market Impact
Nu Holdings' expansion in Brazil and Mexico, alongside successful cross-selling and new product introductions, indicate strong future revenue and earnings growth potential.Seeking Alpha • Aug 16
Nu Holdings: Largest Non-Asian Digital Bank, Continues To Deliver
Summary Nu Holdings reported strong Q2 earnings with accelerated growth momentum in KPIs, beating earnings and revenue expectations. The company is outperforming competitors in Mexico and Colombia, expanding its customer base and market share in these countries despite strong neobank competition with more aggressive offerings. Despite political risks, Nu's strong fundamentals and upcoming tailwinds from a banking license in Mexico, and tax reform in Colombia, justify a strong buy rating on the stock. Read the full article on Seeking AlphaSeeking Alpha • Jul 18
Nu Holdings Should Report Well For Q2 - 'Buy' Reiterated
Summary Nu Holdings stock has outperformed the market by a factor of 2 since April 2024. I believe more will come in the medium term - read on to learn why. NU's strong Q1 results show growth in user base, revenue, and margins, supporting my previous bullish thesis. MS analysts state that they expect the Q2 2024 for the entire Latin American market to be very solid in terms of top-line and earnings growth. Despite competition and high valuation, according to my updated calculations, NU stock is undervalued by about 19% today. NU's high upside potential leads me to the conclusion that I should confirm my buy recommendation today. Read the full article on Seeking AlphaShareholder Returns
| NU | US Banks | US Market | |
|---|---|---|---|
| 7D | 9.9% | 2.1% | 0.6% |
| 1Y | 14.3% | 28.7% | 20.1% |
Return vs Industry: NU underperformed the US Banks industry which returned 28.7% over the past year.
Return vs Market: NU underperformed the US Market which returned 20.1% over the past year.
Price Volatility
| NU volatility | |
|---|---|
| NU Average Weekly Movement | 5.9% |
| Banks Industry Average Movement | 3.3% |
| Market Average Movement | 7.1% |
| 10% most volatile stocks in US Market | 16.3% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: NU has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: NU's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2013 | n/a | David Velez-Osomo | nubank.com.br |
Nu Holdings Ltd. provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States. The company provides spending solutions comprising Nu credit and prepaid card, a digitally enabled card that acts as a credit and a prepaid card; Nubank+ Tier, an evolution of the Nu experience; Ultraviolet credit and prepaid card, a premium metal credit card; mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones; and Nu Shopping, an integrated marketplace that enables customers to purchase goods and services from various ecommerce retailers. It also offers transactional solutions, such as Nu Personal Accounts, a digital account solution for personal financial activities; Nu business accounts for entrepreneur customers and their businesses; and Nu business prepaid and credit card.
Nu Holdings Ltd. Fundamentals Summary
| NU fundamental statistics | |
|---|---|
| Market cap | US$73.57b |
| Earnings (TTM) | US$3.61b |
| Revenue (TTM) | US$8.44b |
20.4x
P/E Ratio5.6x
P/B RatioIs NU overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NU income statement (TTM) | |
|---|---|
| Revenue | US$8.44b |
| Cost of Revenue | US$0 |
| Gross Profit | US$8.44b |
| Other Expenses | US$4.83b |
| Earnings | US$3.61b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
Nov 12, 2026
| Earnings per share (EPS) | 0.75 |
| Gross Margin | 100.00% |
| Net Profit Margin | 42.73% |
| Debt/Equity Ratio | 44.0% |
How did NU perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/17 04:35 |
| End of Day Share Price | 2026/08/14 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Nu Holdings Ltd. is covered by 28 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ramsey El-Assal | Barclays |
| John Coffey | Barclays |
| Rafael Reis | BB Banco de Investimento S.A. |