Sofinco

Sofinco
Country	France
Seat	Paris
legal form	SA
BIC	BSOFFRP1XXX
founding	1951
Website	www.sofinco.com
Business data
Total assets	€ 3,345 million
Customer credit	€ 54,500 million
Employee	2,472
Offices	25th
management
Corporate management	Jérome Brunel (Chairman) Marie-Hélène Meunier (CEO)

Sofinco is a consumer bank from Paris / France . It belongs to Crédit Agricole SA

history

On the initiative of the Fédération Nationale de l'Ameublement (Furniture Manufacturers Association ), the Société de Financement Industriel et Commercial (Sofinco) was founded in 1951 . It should provide consumer credit for buying furniture. In 1968 the loan volume exceeded one billion francs.

In 1987 a stake in Wafasalaf, a consumer credit bank in Morocco, was taken over. In 1999 a share of 70 percent in Sofinco and in 2000 the remaining 30 percent was taken over by Crédit Agricole SA.

Finalion , a subsidiary of Crédit Lyonnais specializing in consumer credit, was taken over in 2004.

In 2006 Sofinco and Fiat founded a joint venture , Fiat Group Auto Financial Services (FGAFS), which operates as an automobile financer in 13 European countries.

In 2007 founded Sofinco and the Saudi Fransi Bank , the joint venture Sofinco Saudi Fransi in Saudi Arabia.

Sofinco then took over Interbank and DMC Groep from the Dutch ABN AMRO Bank.

Foreign participations

Bank name	owner	Country	insoles	loan
Credium	100% Sofinco	Czech Republic	185 million euros	€ 350 million
Creditplus Bank	100% Sofinco	Germany	€ 712 million	€ 1,380 million
Emporiki Credicom	50% Sofinco 50% Emporiki Bank	Greece	€ 536 million	€ 952 million
Credigen	100% Sofinco	Hungary	€ 30 million	€ 38 million
Agos	51% Sofinco 49% Banca Intesa	Italy	€ 6,374 million	€ 10,651 million
Wafasalaf	34% Sofinco 66% Attijari Wafa Bank	Morocco	€ 584 million	€ 1,134 million
Ribank / Interbank	100% Sofinco	Netherlands	€ 411 million	€ 2,754 million
Credibom	100% Sofinco	Portugal	€ 551 million	€ 1,096 million
Sofinco Saudi Fransi	50% Sofinco 50% Saudi Fransi Bank	Saudi Arabia	€ 12 million	€ 11 million

Key figures

The volume of consumer credit developed as follows:

• 2001 - 14.6 billion euros
• 2002 - 17.8 billion euros
• 2003 - 21.6 billion euros
• 2004 - 26.1 billion euros
• 2005 - 31.1 billion euros
• 2006 - 48.4 billion euros (of which 14.1 billion euros from Fiat Group AFS)
• 2007 - 54.5 billion euros (of which 15.6 billion euros from Fiat Group AFS)

Individual evidence

1. ↑ Entry in the BIC directory at SWIFT
2. ↑ ^{a b c} http://www.sofinco.com/spip.php?rubrique101
3. ↑ http://www.sofinco.com/IMG/pdf/CP_SOFINCO-ABN_Amro_VA_28112007.pdf
4. ↑ Sofinco overview
5. ↑ http://www.sofinco.com/spip.php?rubrique92

Web links

• Sofinco Homepage (fr)