Discovery Bank Reduced Half Year Losses by 20%

Discovery Bank reversing losses slowly but surely.

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Discovery Bank moves closer to it sales target of 1000 new clients per day as it reduces half year losses to R 398 million.

“Retail deposits at 31 December grew by 33% to R12.7 billion versus the prior period, with growth in advances of 19% to R4.8 billion, over the same period. Discovery Bank’s share of new credit issued was at 15% (by value) of credit card advances in the third quarter of 2022, up from 5% in the third quarter of 2021, yet customer quality remains excellent, with high average levels of non-interest revenue per client.”

Discovery Bank

To read the full article visit ITWeb, ‘Discovery Bank narrows loss to R398m‘.

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