ANZ vs Nubank

ANZ to commence external audit tender process

The Board of ANZ Group today announced it will commence a competitive tender process to select the next provider of ANZ Group external audit services.

Australia and India: Partners in a changing world

Drawing on both personal experience and four decades of ANZ's presence in India, ANZ CEO Nuno Matos reflects on the evolution of the Australia-India relationship and the opportunities that lie ahead.

ANZ prepares to welcome Suncorp Bank customers

Suncorp Bank has today started writing to its customers about their transition to ANZ, as ANZ prepares to welcome them. ANZ also announced it will assume and expand Suncorp Bank's operations.

Nubank Abandons £10B Monzo Deal After Stock Drop

Nubank, Brazil's digital bank, has called off its proposed acquisition of UK-based Monzo after shares fell as much as 10% following leaked talks. The £10 billion price tag was deemed too high by investors, with analysts questioning the financial rationale. Nubank will instead expand internationally through its stablecoin account, Nu Global. Monzo, which was pushing for a sale, now faces a tough market, with its preferred option being a minority stake sale to private equity firms like CVC and Advent. The company's valuation may drop below the £6 billion IPO figure discussed earlier. Additionally, Nubank faces regulatory challenges in Europe with Brazil's Resolution 561, which restricts stablecoin cross-border settlements.

• Nubank's shares fell up to 10% after Monzo acquisition talks leaked.
• Nubank announced it is 'not pursuing a transaction' with Monzo.
• The deal was valued at up to £10 billion.

6-K Financial Filing Analysis for Nubank (2026-09-30)

Nu Holdings Ltd. (Nubank) has filed a Form 6-K to formally refute recent media speculation regarding a potential corporate transaction with UK-based digital bank Monzo. The company explicitly stated that while it respects Monzo, it is not pursuing any transaction involving the entity. Nu reaffirmed its disciplined capital allocation framework and stated that its current strategic priorities remain focused on solidifying its core market in Brazil, accelerating growth in Mexico and Colombia, and expanding its global footprint via Nu Global.

• Nu Holdings officially denied recent media reports, confirming it is not pursuing a transaction with UK neobank Monzo.
• The company reiterated its primary geographic expansion and scaling focus on Brazil, Mexico, Colombia, and international expansion via Nu Global.
• Nu confirmed its capital allocation criteria remain unchanged, requiring strict strategic fit, returns above the cost of capital, and per-share value creation.

Nubank in talks to acquire Monzo for up to £10B

Brazilian neobank Nubank is in early-stage talks to acquire UK-based digital bank Monzo, according to Sky News and City AM. The deal could value Monzo at £8-10 billion ($9-11.5 billion), more than double its October 2024 valuation of £4.5 billion. Monzo, with about 15 million customers and reported FY2026 revenue of £1.7 billion, holds £25.7 billion in mostly unlent deposits, which Nubank could potentially deploy as loans—a strategy it has never executed outside Latin America. The acquisition would provide Nubank with a UK banking license, accelerating its European expansion and challenging Revolut. However, regulatory hurdles and UK rules may pressure Nubank's high margins. The payment would likely be stock-heavy, and competitive offers could affect the price. A sale would end Monzo's IPO plans, previously anticipated at a £6 billion valuation. Nubank is valued at $65 billion with nearly 139 million customers.

• Nubank is in early talks to acquire Monzo for £8-10 billion, more than double Monzo's last valuation.
• Monzo holds £25.7 billion in mostly unlent deposits, and reported revenue of £1.7 billion with ~15 million customers.
• The acquisition would end Monzo's IPO plans and provide Nubank with a UK banking license.