Financial services group Discovery expects its digital banking business to become profitable in 2025.
expects its digital banking business to become profitable in 2025 after narrowing losses in the past year and reaching a target of a million clients ahead of schedule, CEO Adrian Gore said on Thursday.
Gore said in an interview that he expects the bank to turn a profit next year and generate R400-million in operating profit per year as it works towards a target of R3-billion in operating profit by 2029. The bank, which serves the mass affluent population between the ages of 25 and 50, said its total client base grew 36% during the year, hitting its goal of one million clients well ahead of a 2026 target.
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