Sign in

    Geoffrey Elliott • Autonomous

    Geoffrey Elliott's questions to Nu Holdings Ltd (NU) leadership

    Geoffrey Elliott's questions to Nu Holdings Ltd (NU) leadership • Q2 2025

    Question

    Geoffrey Elliott of Autonomous Research inquired about the mix of credit card balances, asking if the current level of interest-earning installments (around 27-29%) is a normalized range or if it could increase further.

    Answer

    CFO Guilherme Lago stated that the current mix should remain more or less where it is. He suggested there might be a slight upside risk depending on the adoption of products like PIX financing, but he would not expect a material increase beyond the current 29% level.

    Ask Fintool Equity Research AI

    Geoffrey Elliott's questions to Nu Holdings Ltd (NU) leadership • Q3 2024

    Question

    Geoffrey Elliott asked for more detail on the increase in credit card Stage 3 NPLs from 9.1% to 9.8% and inquired about the performance of the PIX credit portfolio.

    Answer

    President and COO Youssef Lahrech explained that the Stage 3 increase is consistent with the lagging 90+ NPL trend, which behaves like a stock metric. He pointed to flow metrics like NPL formation and Stage 3 formation, which both declined in the quarter, indicating improvement. Lahrech reiterated that the company remains very pleased with the strong economics and consumer demand for the PIX financing product.

    Ask Fintool Equity Research AI

    Geoffrey Elliott's questions to MercadoLibre Inc (MELI) leadership

    Geoffrey Elliott's questions to MercadoLibre Inc (MELI) leadership • Q2 2025

    Question

    Geoffrey Elliott of Autonomous Research asked how the funding mix for the rapidly growing credit portfolio is expected to evolve and what the implications would be for the Net Interest Margin (NIM).

    Answer

    EVP & CFO Martín de los Santos explained that mature portfolios like consumer and merchant loans are already majority-funded by third parties, with the cost included in the NIM calculation. The credit card portfolio, however, has been funded by MercadoLibre's own balance sheet. As they begin to use third-party funding for credit cards in the future, it will create a headwind for the reported NIM.

    Ask Fintool Equity Research AI

    Geoffrey Elliott's questions to MercadoLibre Inc (MELI) leadership • Q1 2025

    Question

    Geoffrey Elliott asked about the strategy behind offering a high-yield deposit rate of 120% of CDI in Brazil, questioning whether the goal was customer loyalty, funding, or another objective.

    Answer

    Osvaldo Giménez, EVP of Fintech, described the high-yield offer as a key marketing initiative to position Mercado Pago as the leading digital bank in Brazil. He explained that it effectively attracts and retains users, increasing their engagement with the ecosystem. He also noted that the offer has specific conditions and limits, making it a targeted and controlled campaign rather than a broad funding strategy.

    Ask Fintool Equity Research AI

    Geoffrey Elliott's questions to MercadoLibre Inc (MELI) leadership • Q3 2024

    Question

    Geoffrey Elliott asked about the fulfillment investments, questioning how long the expansion would weigh on margins. In a follow-up, he requested an explanation for a non-recurring G&A expense related to customer refunds for prior periods.

    Answer

    Executive Martin de Los Santos clarified that most of the quarter's margin compression came from the credit card business, not fulfillment. He stated that fulfillment investment is 'business as usual' and that short-term cost pressures are typically diluted by incremental volume and productivity gains. Regarding the G&A expense, he explained it was a one-off refund to fintech users in Brazil for past prepaid installments, a decision made to align past practices with a new policy of refunding interest for early payments.

    Ask Fintool Equity Research AI