Bear's Portfolio through 02/2024

[PaulWBryant]

@stewaj1

Here is my take. The reason NU’s revenue is increasing at a faster rate than its credit plus deposit portfolio is due to its focus on increasing revenue through upselling and cross-selling financial products to its growing customer base rather than solely relying on growth in its deposit and lending businesses.

Despite the evidence you give, the numbers seem to disprove this. A much larger percentage of their revenue is coming from interest income now than a few years ago. My guess is, they’re getting some very high interest rates.

Bear