Sofac will hold its Ordinary General Meeting on March 24, 2025, in Casablanca, with a major decision on the agenda: the approval of a bond issuance program of up to 2 billion dirhams. This strategic initiative aims to strengthen the company’s financing capacity and support its growth in an expanding credit market.
The year 2024 was marked by strong financial performance, with a net profit of 160.35 million dirhams and a rising net banking income of 817.6 million dirhams. Outstanding loans and receivables from customers increased to 16.24 billion dirhams, reflecting strong demand for Sofac’s financing solutions. Despite a risk cost of 197.3 million dirhams, operating profit remained stable at 343.3 million dirhams.
To sustain this momentum, Sofac plans to raise up to 2 billion dirhams through bond issuances, either conventional or subordinated. The program, which may be executed in one or multiple tranches, is designed to diversify the company’s funding sources and optimize its financial structure.
The General Meeting will also vote on the distribution of a dividend of 50.29 dirhams per share, totaling 105.8 million dirhams. This decision reflects Sofac’s commitment to balancing profitability for its shareholders with strategic investments.
Changes in governance will also be on the agenda, including the appointment of a new independent board member and the ratification of a co-optation. These adjustments aim to strengthen the company’s leadership structure and ensure the continuity of its strategy.
With this fundraising initiative and key strategic decisions, Sofac is setting ambitious goals for 2025. The company is focused on optimized risk management, diversification of its offerings, and reinforcing its position in the financing market. The March 24 General Meeting will be a pivotal moment to confirm these directions and propel Sofac into a new phase of growth.
