South Africa’s newest R4 billion bank hopes to break even by 2028

• Bank OM Bank aims to break even by 2028 with R4 billion in deposits and R26 billion in lending
• Old Mutual has invested R4 billion in building the new bank, plans to spend more, and is doubling down on share buybacks to boost capital efficiency
• The company's shares climbed as much as 1.9% on the news, while CEO Jurie Strydom expressed confidence in the bank's execution and target range