One of South Africa’s newest banks is planning to almost double its customer base and boost its lending book as it seeks to increase profit to R3 billion ($173 million) by 2029.
Six-year-old Discovery Bank, a unit of insurer Discovery, 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 R68 million and plans to leverage its existing 1.2 million clients and the 1 000 new customers it nets daily to power earnings over the next four years.
Read: Discovery Health Medical Scheme member loss continues
ADVERTISEMENT
Interactive Content: The use of interactive content, such as quizzes and polls, is
becoming more common in online news.
Night Train
Fun South African Fact: The Karoo region in the Western Cape is home to some of the best fossils of early dinosaurs. In fact, it is estimated that some 80% of the mammalian fossils found to date were found in the Karoo.
Mr. Alien
China: You have two cows. You post their pics all over social media, then sell people fake milk.