South African retailer building a bank for less than R1 billion

• Pepkor's new banking proposition is on track and within target, with the total build cost for the bank remaining below R1 billion.
• The retailer's +more customer value platform reached 18 million members by the end of July 2026, and Pepkor plans to launch its bank, called PlusB, in the second half of its 2027 financial year.
• Pepkor plans to reduce the Capfin book, focusing on growing credit through PlusB in the future, and aims to attract 1.8 million primary banking customers within five years.