SAO PAULO (Reuters – Latin American fintech Nubank made a profit in Brazil’s first half of 2021, as more people signed up for its credit card.

Nu Pagamentos as Nubank is officially known posted a net income in January-June of 76million reais ($13.7million), its first semester under the black. A year ago, Nubank suffered a loss in this same time frame of 95 million Brazilian reais.

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Nubank makes its first full-semester profit as Latin America’s leading fintech company is aiming to go public in the United States starting in 2022. The initial offering would be worth more than $55 billion.

These results don’t include Nubank operations in Colombia or Mexico. Brazil, however is Fintech’s biggest market.

Guilherme Lago, chief financial officer of Nubank stated in the statement that Nubank’s total payments volume increased by 92 billion Brazilian Reals from one year ago to 92 billion. He also said that clients using their credit cards are more frequent.

According to Brazil’s central banks data, its loan book ended June at 23 Billion Reis. This is almost double the amount it had a year ago.

Lago stated that Nubank has added over 8 million clients to its portfolio since December.