23 Sep 2025 | 5 Mins Read
Discovery Bank eyes South Africa loan growth to boost profit
Flipitmoney
Discovery Bank, a unit of insurer Discovery Ltd., broke even in its second half of fiscal 2024, a year earlier than expected, and aims to boost profit to 3 billion rand ($173 million) by 2029. The lender aims to double customers to 2 million, increase lending 39% annually, and raise loans to deposits ratio to 70% from 39% by 2029, with CEO Hylton Kallner driving the growth through innovation.