Discovery FY26: A Strong Year and a Shared Road Ahead

Discovery has published its results for the year to 30 June 2026, and the numbers are strong.

Group Performance

• Normalised operating profit up 17% to R17.75bn

• Headline earnings up 34% to R12.92bn; normalised headline earnings up 21% to R11.80bn

• Final dividend 273c (+36%), full year 384c (+33%)

• Operating cash flow up 26% to R11.3bn

• Discovery SA up 16% to R13.87bn; Vitality up 21% to R3.88bn 

Discovery Bank

• Normalised profit up more than 600% to R370m — its first full-year profit

• Profit before new-business acquisition costs: R865m, up from R368m

• Clients up 26% to 1.6m; accounts up 26% to 3.8m

• Gross retail advances up 40% to R12.9bn

• Deposits up 17% to R27.2bn; revenue up 31% to R3.1bn

Overall, the results point to sustained earnings momentum and disciplined execution across the group.

We recently sat down with Discovery Bank CEO Hylton Kallner to unpack the group’s FY2026 results, the growth across the business and what’s next for Discovery.

Purpose behind the numbers

What sets Discovery apart isn't just the financial performance, it's how consistently the business is built around a clear purpose. Encouraging and rewarding better long-term decisions has created a strong link between good outcomes for clients and sustainable growth for the business.

That thinking runs through Adrian Gore's recent book, The Four Principles: Multiply Your Impact in Life and Leadership, which reflects on the philosophy behind Discovery's journey, and it's part of why Discovery and EasyEquities make such natural partners.

We share the same long-term view: helping people make better financial decisions, and making it easier for everyone to build and protect their wealth over time.

Our shared momentum

The partnership continues to reflect that alignment. Over the past year, Discovery-linked accounts on EasyEquities have grown by more than 67%.

Behind those numbers are Discovery clients opening and funding accounts, building portfolios, and making investing a bigger part of their financial lives. That's the real measure of what's being built together.

We're proud of this partnership and what's been achieved so far, and we look forward to helping even more Discovery clients take meaningful steps towards wealth creation.