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CasaNext FinCorp | BMCE Capital Global Research Forecast – October 2025 Morocco’s equity market is on track to deliver its strongest corporate earnings performance in history. According to the latest research note from BMCE Capital Global Research, the aggregate profits of listed companies are projected to reach MAD 41.2 billion in 2025, breaking the MAD 40 billion threshold for the first time. This represents a robust 30.8% increase compared with 2024, underpinned by broad-b

BMCE Capital Global Research (BKGR) frames Morocco’s elevation to Investment Grade as a pivotal moment for the country’s economic trajectory and global capital market positioning. BKGR notes that the move reflects international recognition of Morocco’s fiscal discipline, growth resilience, and sectoral diversification efforts, and that the compression of sovereign spreads had already begun prior to the formal upgrade. In the fixed-income market, BKGR anticipates a meaningful

BMCE Capital Global Research (BKGR) has affirmed its “Buy” recommendation on Attijariwafa Bank and raised its price target to MAD 900, implying ~16.5% upside relative to the share price of MAD 772 on September 12, 2025. In the first half of 2025, the bank’s outstanding loans grew by 0.9% to MAD 417.4 billion, reflecting a year-on-year increase of 5%. BKGR expects loan growth to accelerate to +8% in 2025 and +7% in 2026, driven by major infrastructure projects related to the 2

Source context: Boursenews video “Les perspectives de la Bourse de Casablanca avec CFG Marchés,” recorded in Marrakech during the 12th CFG Bank Equity Conference, which brought together c.~28 listed (and regional) issuers and ~110 investors from 15 nationalities. What follows is CasaNext’s professional summary of CFG Marchés’ views shared at the event. Executive takeaways Constructive sentiment despite a healthy pullback. After a multi-month rally, recent volatility is framed

The national rebound that began in late-2023 is expected to persist into H2-2025. HCP projects real GDP growth of 4.3% YoY in Q3 and an acceleration to 4.7% YoY in Q4, with core inflation below 2% over the period. The current upswing has run for six consecutive quarters, led by non-agriculture activity averaging +4.8% YoY per quarter and peaking at +5.5% in Q2 on broad-based momentum across manufacturing and mining, construction, and hospitality (these sectors contributed ~40

Morocco’s Treasury (TGR) reported a budget deficit of MAD 50.5 billion at the end of September 2025, compared with MAD 26.6 billion a year earlier, according to its latest monthly public finance bulletin. This shortfall includes a negative balance of MAD 2.8 billion from special Treasury accounts (CST) and autonomous state-managed services (SEGMA). Ordinary revenues rose 17.4% year-on-year to MAD 310.7 billion, driven by higher tax and non-tax receipts, while ordinary expendi

CasaNext Insight: To navigate budgetary constraints and enhance resource efficiency, the Moroccan government is adopting innovative...

Introduction What are OPCIs? How do they work? What advantages do they offer investors and the broader real estate market? And how can...

CasaNext FinCorp | Market Insight His Majesty King Mohammed VI’s address to Parliament marks a pivotal policy moment — reaffirming the...

A recent analysis by The African Exponent highlights Morocco’s dual strength as both a politically vibrant and economically attractive...

💎 The Casablanca Stock Exchange has announced its annual revision of the MASI20 index, the benchmark for Morocco’s most liquid blue-chip...

✅ The Moroccan Capital Market Authority (AMMC) has published the list of authorizations and visas granted to collective investment...

After five consecutive sessions of decline, the MASI reversed losses, rebounding intraday from a low of 18,404 (-3%) to close up 0.23% at...

Morocco’s economy expanded by 5.5% in Q2 2025, up from 3% a year earlier, supported by strong domestic demand, easing inflation, and...

TGCC reported consolidated revenues of MAD 5.6bn in H1 2025, up 43.6% YoY, driven largely by the acquisition of 60% of STAM VIAS, which...

🚀 Standard & Poor’s has upgraded Morocco’s sovereign rating to BBB-/A-3, restoring its coveted Investment Grade status. This marks a...

📈 Market Commentary – Casablanca Stock Exchange Next week is shaping up to be decisive for Casablanca’s equity market. According to...

On 26 Sept 2025, the Casablanca Stock Exchange ended the week sharply lower, with the MASI recording its worst weekly decline since...

The Moroccan Capital Market Authority (AMMC) published August 2025 updates on listed companies’ share buyback programs . BCP: Bought...

On 24 September 2025, the Casablanca Stock Exchange extended its consolidation trend: Indices: MASI: 19,617.53 pts (–0.77%), still up...