Discovery Bank: So many moving parts
Discovery’s Covid hit has been lighter than feared, but the bank’s slow growth and complex one-offs make it a tricky call
Just to confuse investors, Discovery has announced two very different levels of profit in the year to June 2020.
What it calls normalised headline earnings have fallen only 26%, to R3.75bn. Actual headline earnings, on the other hand, have plunged a more precipitous 94%, to R296m.