SOFAC

SOFAC is the oldest Moroccan financing company. Created in 1947, a joint-stock company listed on the Casablanca Stock Exchange and licensed by Bank Al-Maghrib under law 103-12, it has been controlled since 2011 by CIH Bank (66.31% of the capital at end-2024) alongside Barid Al-Maghrib (33.56%), with a free float below 1% (AMMC reference document). Its board is chaired by Lotfi Sekkat, chairman and CEO of CIH Bank. On 4 December 2025, a 254 million dirham capital increase (315,675 new shares issued at 804 dirhams) raised the share capital to MAD 242,017,500 (SOFAC release). The head office is at 57 boulevard Abdelmoumen, Casablanca.

Key 2025 figures: according to the financial release of 18 February 2026, net production rose 52% versus 2024, driven by car financing and leasing; gross outstanding loans reached 24,342 million dirhams (+29%); net banking income came to 1,004 million on a parent-company basis (+27%) and 1,101 million consolidated (+36%); net income stood at 185 million parent-company (+15%) and 293 million consolidated (+31%). Funding relies on securitisation (FT AUTOMOBILITY and FT AUTOLEASE III funds), finance-company bonds (programme raised to 9 billion) and a 250 million perpetual subordinated loan.

Car loans and LOA: SOFAC finances new and used vehicles in branch, at partner dealerships and through the Crediz platform. According to our 2026 car loan comparison, it holds about 15% of car financing by finance companies, with observed rates of 6.80 to 8.50% APR over 12 to 72 months, a 10% minimum down payment for new cars and the market's most flexible used-car policy (vehicles up to 12 years old as standard, 15 with a strong file); early repayment is free after 12 months. Banks remain cheaper (5.5 to 7.5%) but slower; our LOA, LLD or credit guide helps you choose between formulas.

Personal loans, consolidation, equipment: personal and equipment loans are offered to employees, civil servants, retirees, professionals and the self-employed. For debt consolidation, our 2026 guide records at SOFAC rates of 6.9 to 8.0%, a cap of MAD 1,200,000 over 180 months and file fees of 1% capped at MAD 4,500, with good flexibility for the self-employed. APRs at finance companies without salary domiciliation can however rise to 12 or 13.5% according to our 10-lender comparison; the rate applied remains capped by the maximum conventional interest rate published by Bank Al-Maghrib.

Professionals and group: SOFAC offers equipment leasing to professionals and SMEs, structured financing through its subsidiary SSF (Sofac Structured Finance), insurance products through Sofassur and long-term rental and mobility services through its subsidiary Badeel; it also manages consumer credit on behalf of its shareholders, notably the loans distributed by Al Barid Bank and CIH Bank. Contacts: switchboard 05 22 42 96 96, low-cost line 0801 008 000, mobile app on iOS and Android.

Applying with SOFAC, step by step: 1) simulate online on Crediz or with our calculator; 2) prepare your national ID, proof of address, last three payslips or proof of income, three bank statements, employer certificate and a pro-forma invoice for a vehicle; 3) file the application online, in branch or at the dealership; 4) answer after scoring, signature of the contract and death-disability insurance; 5) funds released to the seller or to your account. Law 31-08 gives you seven days to withdraw.

Complaints and recourse: first send a written complaint to SOFAC's customer service; a reply is mandatory within 40 working days. Failing a solution, refer the matter free of charge to the Moroccan Banking Mediation Centre, which covers financing companies, then to Bank Al-Maghrib. In case of arrears, our foreclosure and mediation guide details the steps.

Wafir.ma is an independent comparison site: neither a credit institution licensed by Bank Al-Maghrib nor an insurance intermediary licensed by ACAPS. Rates quoted are observed ranges; only SOFAC's contractual offer is binding.