$NU is DESTROYING traditional banking... Nubank is quietly becoming one of the biggest banks on earth, and it did it without a single branch. Just crushed a record quarter: $5 billion in revenue, $871 million in profit. Its efficiency ratio dropped below 18%, which, for a bank, is absurdly good. Most traditional banks would kill for half that. 115 million customers in Brazil. Adding Mexico. Adding Colombia. And it built the largest small-business banking base in Brazil at basically zero cost to acquire them. A branchless bank is eating an entire continent.