Nubank tops São Paulo banking primacy ranking, survey shows

A survey by Instituto PHD shows Nubank is the main bank for 18.4% of consumers in São Paulo state, ahead of Itaú (16.3%) and Caixa (16.2%). This marks a shift in market share perception, as a digital bank leads in a major state. The data is based on in-person interviews and is statistically valid, but reflects consumer preference, not transaction volumes.