Following new regulations in Brazil that forbid the use of “bank” in a brand name unless the company holds a banking license, Nu Holdings (NU) is looking to acquire a small bank that already has a license in Brazil, Matheus Piovesana of Bloomberg reports, citing a person familiar with the matter. Buying a bank that has accumulated losses would offer added tax benefits, the source told Bloomberg. Nu is reviewing candidates, including Banco Digimais, according to the person. Shares of Nu Holdings, which operates Nubank, are up 21c to $16.91 in late morning trading.
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