Nubank (Roxo34) announces the departure of Youssef Lahrech from the presidency; David Vélez assumes cargo

THE Nubank (Purple34) announced the departure of Youssef Lahrech from the position of chairman and CO (Operations Director) After almost six years in the digital bank.

According to the statement, the executive will advise the Audit and Risk Committee of the Board of Directors as a permanent observer and serve as an expert advisor to Nubank in credit -related strategic initiatives.

With the movement in the high level, the company’s CEO and founder, David Vélez, will assume the functions. The movement occurs almost two months after Vélez’s return to the Digital Bank’s leadership command.

In March, Nubank announced the departure of Jag Duggal, which left the position of Product Director. With this, the digital bank brought Vélez again to the command of the leadership, directly in charge of heading five other top executives, including Youssef Lahrech.

Nubank’s 1T25

Nubank found net income of $ 557 million in the first quarter of 2025, up 74% over the same period last year. Already the adjusted net income was $ 606.5 million, while analysts, on average, pointed to a gain of US $ 630.5 million, according to Lseg survey.

The result, which was positively impacted at $ 47 million before taxes due to a tax credit review, was also slightly below the consensus released by the company, of US $ 614 million.

After delivering weak results in the fourth quarter, when the action fell almost 20% in a single day, the purple enters the field with the ‘pressure’ of showing more positive numbers.

Node Return on Capital (ROE)the bank reached 27%, falling compared to fourth quarter, when it delivered 29%, but up four percentage points compared to the previous year. The number is above 22% of the Itaú (Itub4), the largest bank in Brazil.