Nu Holdings Ltd. (NU) Lines Up $4.2 Billion Investment. Destination Mexico

Nu Holdings Ltd. (NYSE: NU ) is one of the top bank stocks to buy now according to analysts . In the past month alone, Nu Holdings shares have climbed up more than 17%, and analysts see them rising. Wall Street has a consensus Buy rating on Nu Holdings.

Nu Holdings Ltd. (NYSE:NU), doing business as Nubank, plans to invest $4.2 billion to grow its business in Mexico over the next four years. The investment plan was announced on July 6 after Nubank executives met with Mexican President Claudia Sheinbaum at the National Palace.

In the first phase of the investment, the bank will focus on expanding its operational capabilities and roll out fresh banking services. The bank plans to deploy $2.5 billion toward capital expenditures. In April, Nubank secured a license that allows it to expand its lending, banking, and deposit products in Mexico.

Nubank added roughly 4 million customers in Q1. The bank has built a base of 115 million customers in Brazil, around 14 – 15 million customers in Mexico, and nearly 5 million customers in Colombia. According to the equity research firm Needham, Nubank's customer base can help drive growth in other Latin American markets. Needham initiated coverage of Nubank stock on June 26 with a Buy rating and $17 price target.

Nu Holdings Ltd. (NYSE:NU) is the parent of Nubank, the largest digital banking platform in Latin America. Nubank offers app-based banking, credit cards, and investment tools. It serves roughly 135 million customers across Brazil, Mexico, and Colombia. Nubank runs a fully digital operation without traditional bank branches.

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