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Analyst
Tito Labarta
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 8on tracked calls
- Challenge rate
- 0%none of 8 questionsLimited sample
- Companies
- 1questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right. See how we grade analysts on earnings-call questions.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 8 of 8 questions from 1 company
NUNu Holdings Ltd.8 questions · 7 reporting periods · 0 of 8 challenging
Calendar 2026 Q2
how do you think about the growth outlook maybe going into 2027 and the ability to this level of risk-adjusted NIMs?
Show response
David declined a specific growth number but pointed to underwriting cushion and primacy; Rob said risk-adjusted NIM should stay in the same region.
was there an impact from Desenrola on that risk-adjusted margin given the different moving parts?
Show response
Rob quantified Desenrola as a minority of the 115bps cost-of-credit contribution; most came from seasonality and solid credit performance.
Calendar 2026 Q1
how is the high income segment going? I think that's still a big opportunity for you as well
Show response
Lago and David cited strong high-income traction (2 of 5 high-income Brazilians are customers; credit-card volumes +42% YoY) and continued secured-lending growth as public payroll offsets the FGTS runoff.
Calendar 2025 Q4
there was a big jump in expenses, and I know there was the one-off from the return to office
Show response
Lago attributed the OpEx jump to seasonal marketing, technology-investment tax-break-related costs, and the return-to-office one-off; David said 2026 U.S.-launch investment will be modest.
Calendar 2025 Q3
I was wondering if that had any impact. I was a bit surprised by how much the interest expenses jumped.
Show response
Lago said the jump came from a deliberately more aggressive stance on segmented deposits (Turbo Cajitas) in Brazil, more than offset by revenue.
Calendar 2025 Q2
loan growth seems to be accelerating. You're doing well there, but deposit growth remains very strong
Show response
Lago said Nu is comfortable with its loan-to-deposit ratio and will keep growing deposits for primary-banking engagement, expecting NIM gains in Mexico and Colombia; direct.
Calendar 2025 Q1
just help us think about how big can a secured lending portfolio get for you and how aggressive can you be there
Show response
Labarta asked how large secured lending can get; David detailed public payroll (+50%, early), FGTS (~30% origination share) and private payroll as major runway with low market share today.
Calendar 2024 Q4
how do you think about the growth -- the continued growth of that both from FGTS and payroll loans
Show response
Lago expects secured-lending originations to accelerate through 2025 across public payroll, FGTS, and investment-backed loans, supported by new collateral agreements.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| NU Nu Holdings Ltd. | 8 | 0%none of 8 questions |
- NUNu Holdings Ltd. · 8 questions0%none of 8 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | 2 | 0%none of 2 questions | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Credit6
- Margin3
- Cost Pressure2
- Guidance Reliability1
- Demand1
- Geographic Expansion1
- Product Launch1