AvaFin as a subsidiary of Capitec

Capitec Bank takes control of AvaFin, the group announces in June 2024. The transaction worth EUR 26.3 million increases the bank's share from 40.66% to 97.69%, and the remaining shares remain with the management of AvaFin.

The group indicates its development from its Latvian beginnings in 2012 to activities including: in Poland, Czech Republic, Spain and Mexico. Capitec presents the acquisition as part of its expansion beyond the South African market. The change is associated with the unification of local brands.