Old Mutual aggressively drives bank profitability amid mixed H1 results

Old Mutual , Africa’s largest insurer by assets, is accelerating its push into the banking sector. The financial giant is aggressively working to turn its newly launched retail lender, OM Bank, into a profitable enterprise by 2028, challenging traditional South African banks for a larger share of industry earnings. The Rise of OM Bank: Targets and Trajectory Officially launched in August 2025, OM Bank has rapidly gained traction in the highly competitive South African market.