Is MercadoLibre's Expanding Credit Portfolio Becoming a Growing Risk?

Key Takeaways MELI's fast-growing credit portfolio is reshaping its risk exposure across core markets. MELI's slipping NIMAL highlight pressure from rapid, capital-intensive loan expansion.MercadoLibre faces added risk strain as Sea Limited and Nu Holdings intensify regional credit competition.MercadoLibre’s (MELI) Mercado Pago division has transformed from a payment platform into a large-scale lender, reshaping the company’s overall risk exposure. In 2025, Mercado Pago accelerated loan deployment sharply, ...