Discovery Bank’s financial performance is the focus of this edition of Business Day Spotlight.
Host Mudiwa Gavaza is joined by Hylton Kallner, CEO of Discovery Bank.
Discovery Bank is one of the country’s newest entrants, using a fully digital model with no physical branches.
Kallner says the bank is performing very well saying it reached monthly break-even at the end of the first half and generated its first profitable period during the second half of the financial year to end-June 2025, ahead of plan.
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This as the six-year-old bank forges ahead with its target to scale the lender, with an ambition to achieve 2-million clients and R3bn in profits by the 2029 financial year.
Though the bank is still in its start-up phase, it offers retail banking solutions, including deposits and loans and advances, to clients in the SA market.
Kallner also says Discovery Bank is gearing up for a future in which artificial intelligence (AI) agents will be able to transact and do banking work on behalf of customers.
During the discussion, Kallner highlights the bank’s financial performance; road to profitability; technology investment; use of AI; benefits of the Discovery ecosystem; and strategy for growth.
Business Day Spotlight is an Arena Podcasts Production.
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