Nu Holdings CEO David Velez said that all of Latin America is rooting for President Javier Milei’s success in Argentina.
Velez said Nubank, as Nu Holdings is known, will “watch” Argentina over the next 12 months. The bank is “adopting a new look” at Argentina under Milei, he said during the Bloomberg New Economy at B20 event in São Paulo.
Discussing the future of Nubank, Velez stated that although Brazil can still contribute to the bank’s growth, Mexico is the nation that offers the greatest opportunity for now. According to Velez, 88% of Mexicans do not have access to credit. “It feels like Mexico is 50 years behind.”
Velez added that “the sky is the limit” for growing verticals. Payroll loans and small businesses are essential for Nubank’s expansion, according to him.
