Casablanca Stock Exchange Achieves Record Market Capitalization in 2025 Amidst Year-End Turbulence

Remarkable Growth in Market Capitalization

The Casablanca Stock Exchange's benchmark index recorded an impressive annual increase of 27.57%, underscoring the resilience of the bullish cycle that has been in place for several years.

In a significant milestone, the market's capitalization exceeded 1 trillion dirhams for the first time, marking a pivotal transformation for the Casablanca financial hub.

Attijariwafa Bank Maintains Market Leadership

In this favorable environment, Attijariwafa Bank solidified its position as the leading market capitalization entity, valued at 157 billion dirhams. This represents a 28.31% increase in its stock price throughout 2025.

The bank's strong performance is attributed to effective cost management, robust commercial dynamics, and significant profit growth.

Additionally, its valuation ratios remain attractive, falling below the market average, which continues to attract institutional investors.

Maroc Telecom Sees Renewed Market Confidence

Maroc Telecom, the second-largest capitalization on the exchange, is now valued at approximately 95.8 billion dirhams following a remarkable annual growth of 32.91%.

The historical operator has regained market confidence, thanks to renewed management and improved visibility regarding its growth strategy.

Analysts are gradually returning to a buying stance, while fund managers are betting on a normalization of dividend policies.

In 2025, Maroc Telecom also initiated a rebranding effort, unveiling a new visual identity and significantly enhancing its perception among investors.

Managem Achieves Spectacular Growth

The most remarkable performance of the year belongs to Managem, with the mining group experiencing a staggering increase of 121.53%, elevating its market capitalization to 75.9 billion dirhams.

This growth is driven by an aggressive strategic deployment, characterized by several external growth initiatives in a particularly favorable environment for metals.

With gold and silver prices reaching historic highs, the market anticipates record results for Managem, further enhancing the stock's appeal.

Marsa Maroc Emerges as a Key Player

In fourth place, Marsa Maroc has emerged as one of the standout performers over the past two years, with its market capitalization reaching 69.7 billion dirhams after a remarkable increase of over 77%.

Investors have praised the clarity of the management's strategy, supported by a solid pipeline of projects in Morocco, including the upcoming launch of Nador West Med, for which commercial partners are already secured.

Simultaneously, the long-awaited international expansion, methodically pursued in 2025, bolsters growth prospects.

The market is now betting on a continuous expansion of Marsa Maroc's scope and profitability in the medium term, a scenario widely shared by analysts.

Banque Centrale Populaire Rounds Out the Top Five

Completing the top five market capitalizations for 2025 is Banque Centrale Populaire, which boasts a valuation of 58.96 billion dirhams.

Despite a cautious risk policy, the group recorded a 9% increase in profits during the first nine months of the year.

In a favorable sector context, BCP continues to distinguish itself with some of the most attractive valuation ratios among its peers.