Gore said Discovery Bank should still get to break-even or profitability around 2022 to 2024 as originally planned. Because of this, said Gore, Discovery Bank is able to comfortably compete on benefits without going down the price competition path. But Discovery Bank is holding back on lendingGore said use of credit by Discovery Bank customers has declined and the bank is happy with the quality of its book as most of its rivals are reporting or expecting a surge in non-performing loans. Gore said Discovery Bank is being "very, very careful about granting of new credit". "Discovery Bank has probably outperformed the other new entrants.

Source: News 24 June 15, 2020 18:00 UTC