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Kristof Horvath's avatar

Thank you for this too. How did you get their $5.5B revenue? In Part 1, you mentioned NII of more than $8B.

https://api.mziq.com/mzfilemanager/v2/d/59a081d2-0d63-4bb5-b786-4c07ae26bc74/abb5b993-fc6b-c86d-4a75-fc2cb6236dfc?origin=1

Here on Page 5, they mention $11.5B revenue.

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Ray Myers's avatar

Thanks for the comment, Nu defines revenue as Interest Income + fees which is $11.5B, but I used a different measurement that is more commonly used for banks. Interest Income + fees - interest paid on deposits - provision for loan losses. Nu instead includes interest paid on deposits and provision for loan losses in their gross margin calculation. I will explain this in more detail in Part 3 which is coming out on Thursday. I will review all parts and adjust to have the same revenue amount.

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Kristof Horvath's avatar

Thank you for the explanation.

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