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In Brazil traditional banks are totally being disrupted. See Nubank.

• rapfaria 2y ago
  Not sure abou that: Credit portfolio in 2023: Itaú - $1176 billion Banco do Brasil - $1109 billion Bradesco - $877 billion Nubank - $91 billion Nubank also had the highest default rate between them (some 6%). It was great when it was created (fully digital, no credit score check for a credit card), but it is now dealing with the same problems as the big banks
  • hcarvalhoalves 2y ago
    To be fair, you have to compare credit portfolios by product and customer size. That is how the Central Bank reports and tracks these numbers. Nubank offers consumer credit (credit card, personal loans), but you're comparing portfolios that include mortgages, large companies, industry, agriculture, etc. Similarly, the default rate of the entire portfolio varies according to the product mix, so you can't compare that way.
    • rapfaria 2y ago
      Exactly, which is why Nubank is miles away from "disrupting" the traditional banks, and not only at what Nubank does.