Reuters logo
South Africa's Capitec makes first foreign acquisition
March 24, 2017 / 2:25 PM / 8 months ago

South Africa's Capitec makes first foreign acquisition

JOHANNESBURG, March 24 (Reuters) - South Africa’s Capitec Bank has purchased a 40 percent stake in Latvia’s Creamfinance for 21 million euros ($22.67 million), the lender said on Friday.

The transaction is Capitec’s first acquisition outside its home market where it has grown from a startup to a bank with nearly 8 million clients within 15 years. ($1 = 0.9264 euros) (Reporting by TJ Strydom; Editing by Joe Brock)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below