{"id":19552,"date":"2026-07-27T12:00:54","date_gmt":"2026-07-27T18:00:54","guid":{"rendered":"https:\/\/miranda-partners.com\/news-and-content\/miranda-intelligence\/fintech-chatter\/mexico-fintech-chatter-july-20-2026\/"},"modified":"2026-11-05T21:39:05","modified_gmt":"2026-11-06T03:39:05","slug":"mexico-fintech-chatter-july-20-2026","status":"publish","type":"post","link":"https:\/\/miranda-partners.com\/es\/news-and-content\/miranda-intelligence\/fintech-chatter\/mexico-fintech-chatter-july-20-2026\/","title":{"rendered":"Mexico Fintech Chatter \u2013 July 20, 2026"},"content":{"rendered":"

Noticias FinTech M\u00e9xico<\/strong><\/h4>

Plata maintains strong portfolio growth in May, with rising losses<\/strong><\/p>

May data from banking regulator CNBV showed Plata maintained its high loan portfolio growth pace, rising 7.3% or MXN 1,054 mn on a sequential basis, well above the pace of 0.6% for total system consumer loans, and ahead of fintech peers in absolute terms (Nu\u2019s portfolio rose by MXN 1,039 mn in May). On the other hand, steady growth translated into continued high operating expenses, which reached MXN 888 mn, and which together with rising provisions drove the bulk of the increase in the losses before taxes of the month, at MXN 505 mn. On the positive side, interest expenses declined sequentially, helped by the surge in deposits, which for Plata have a lower cost than its bonds.<\/p>

Despite the strong portfolio growth, credit quality still showed signs of deterioration, with the unadjusted NPL ratio up 138 bps MoM to 7.4%, a level that, while not quite concerning, does stand well above the system\u2019s 3.5% for credit cards. On the other hand, at 9.9% the reported adjusted NPL ratio was significantly better than that of fintech peers (20.2% for Nu and above 30% for Stori and Klar as of April), allowing for continued attractive risk-adjusted financial margin (MXN 393 mn) in the month, the key to the Fintech\u2019s investment case. (Investors are calculating that operating costs as a percentage of revenues will soon decline due to scale, while margin will improve as funding cost continues to decline).<\/p>

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Fuente: CNBV, Miranda Partners. Cifras en millones de MXN.<\/em><\/p>

Promotion at Nubank signals senior management\u2019s changing priorities<\/strong><\/p>

Nubank announced that Brazil CEO Livia Chanes has been promoted to Latin America CEO; in addition to her current responsibilities, the country managers for both Mexico and Colombia will now report directly to her, while retaining \u201coperational autonomy\u201d. (Like many banks operating across multiple markets, Nu has found it a challenge to balance regional product management with country-level accountability and execution.) The move follows the resignation of CFO Guilherme Lago, who had been Chairman of Nu Mexico, and the announcement last month of a new\u00a0US-based CFO for the company<\/a>, with Chairman and CEO David V\u00e9lez and Co Founder Cristina Junqueira also moving to the US, and dedicating more and more of their attention to the nascent US venture. Interestingly, just over a year ago Mr. V\u00e9lez had told investors he planned to\u00a0become more involved in day-to-day decision-making in Mexico<\/a>\u00a0\u2013 with the bank license\u00a0finally in place<\/a>, Mr. V\u00e9lez seems comfortable now taking a step back and let a trusted lieutenant oversee all of the current LatAm operations. Chanes has spent six years at Nu, and before that was nearly five years at Itau, and before that a Partner at McKinsey, where she worked for over a decade.<\/p>

Bloomberg, 7\/15\/26, Matheus Piovesana:<\/strong>\u00a0Nubank Brazil Chief to Take Over as CEO for All of Latin America<\/a>\u00a0| Other sources:\u00a0<\/strong>company press release<\/a>.<\/p>

Lectura adicional…<\/strong><\/p>