Sofac reported a robust performance in the first quarter of 2024, with a 4% growth in its social net banking income (NBI), reaching 172 million dirhams. This increase highlights the company’s ability to sustainably and profitably expand its operations.
The rise in NBI is directly linked to an increase in the gross outstanding amount, which grew by 5% to 16.511 billion dirhams by the end of March 2024. This reflects Sofac’s strength and capacity to expand its activities in a targeted and sustainable manner, according to the company’s financial results statement.
Net debt also increased by 6%, mainly due to the growth in the BSF (bonded stock funds), aligning with the expansion of activities and the defined financing plan. Sofac demonstrated its ability to sustain growth with a 14% rise in net production compared to the same period in 2023, underscoring the effectiveness of its diversification strategy.
This growth is primarily driven by the automotive and leasing segments, which remain the major pillars of Sofac’s development plan, the statement added.
Looking ahead, the company remains committed to strengthening its strategic positioning with both individuals and businesses.
This approach, focused on proactive diversification and continuous adaptation to market changes, enables Sofac to effectively meet the specific needs of its clients while reinforcing its financial resilience.
