OM Bank surpasses 1 million customers in first year, accelerates drive toward 2028 break-even

OM Bank , the retail lending unit of Old Mutual , has officially surpassed one million customers just 12 months after its public launch. The rapid customer acquisition rate has prompted a strategic pivot within Africa’s largest insurer by assets, transitioning the bank from a supplementary service into the group’s primary engine for future growth. To secure a profitable share of South Africa’s highly competitive banking sector, OM Bank is heavily leveraging Old Mutual’s existing branch network,