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Discovery Bank to Grow South Africa Loans in Bid to Boost Profit
Meta PlatformsMeta Platforms(US:META) MINT·2025-09-22 15:30

(Bloomberg) -- One of South Africa’s newest banks is planning to almost double the number of customers and boost its lending book as it seeks to lift profit to 3 billion rand ($173 million) by 2029.  Six-year-old Discovery Bank, a unit of insurer Discovery Ltd., broke even in the second half of its fiscal year that ended June 30, a year earlier than expected. For the full year, the lender shrank its loss to 68 million rand and plans to leverage its existing 1.2 million clients and the 1,000 new customers ...