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Morocco World
16 hours ago
- Business
- Morocco World
Four Moroccan Companies Among Forbes Top 100 Listed Companies 2025
Rabat — Forbes Middle East's Top 100 Listed Companies 2025 featured four Moroccan businesses, including banking institution Attijariwafa Bank, Maroc Telecom, Bank of Africa, and BCP. Attijariwafa Attijariwafa Bank is ranked 26 out of the 100 businesses listed by Forbes. With a market value of $15.4 billion and sales of $5.2 billion, the bank has established a name for itself in the list for its workforce and services for over 12 million customers across more than 7,200 branches. 'Attijariwafa Bank operates in 27 countries through majority-owned banking subsidiaries. In September 2024, the bank launched an investment fund dedicated to energy efficiency projects across Africa in partnership with Econoler. Al Mada is the bank's largest shareholder with a 46.5% stake,' Forbes said . The bank is managed by its chairman and CEO, Mohamed El Kettani. BCP Group Forbes listed Morocco's BCP Group 39th on the list. The group, chaired by CEO Naziha Belkeziz, has a market value of $5.9 billion and profits of $536 million. 'In May 2024, the group entered into a $70 million risk-sharing agreement with the African Development Bank to support private-sector financing and enhance trade in Africa,' Forbes wrote , noting that the bank served 8.6 million customers as of December 2024. Bank of Africa One of Morocco's billionaires, Bank of Africa's CEO Othman Benjelloun, is also on the list. His group ranked 50 out of 100. The company's market value stands at $4.7 billion, according to Forbes, which also identified the company's profits at $537 million and assets of $45.6 billion. The banks' sales are estimated at $2.99 billion. Forbes Middle East said the bank has 6.6 million customers, 2,0000 points of sale, and employs 15,000 people across 32 countries. Maroc Telecom Maroc Telecom ranks 63, with a market value of $10.9 billion, sales of $4 billion, profits of $287 million, and assets estimated at $7.6 billion. 'Established in 1998 after the split of the National Post and Telecommunications Office, Maroc Telecom is Morocco's primary telecommunications operator with a customer base of 80 million customers,' Forbes wrote . The company's leadership includes former Minister of Economy Mohamed Benchaaboun, who was appointed as the new chairman of the company's executive board in February. Benchaaboun replaced Abdesla Ahizoune, whose term expired after 27 years at the helm of the communication operator. Benchaaboun joins Maroc Telecom after serving as Director General of the Mohammed VI Investment Fund, a position he has held since October 2022. His extensive career includes roles as Morocco's Ambassador to France, Minister of Economy and Finance, CEO of Banque Populaire Group, and, notably, head of the National Telecommunications Regulatory Agency (ANRT). Forbes said it picked up its statistics from main markets in the Arab stock exchanges, ranking the companies based on their performances like sales, assets, and profits for the 2024 financial year, as well as based on their market value as of April 2025.
Morocco World
7 days ago
- Business
- Morocco World
Two Moroccan Banks Make 2025 Forbes Global 2000 List
Doha – Two Moroccan banking giants, Attijariwafa Bank and Banque Centrale Populaire (BCP), have secured positions in the prestigious Forbes Global 2000 ranking of the world's largest publicly traded companies for 2025. Attijariwafa Bank, led by CEO Mohamed El Kettani, ranks 979th globally with impressive financial metrics. The bank reported $4.84 billion in revenue, $956 million in profits, $71.7 billion in assets, and a market capitalization of $14.44 billion. Founded in 1911 and headquartered in Casablanca, Attijariwafa Bank employs over 20,583 people. The bank provides international commercial banking services through various business areas, including domestic banking, Europe and offshore; specialized financial subsidiaries; international retail banking; and insurance and property. BCP, under the leadership of Naziha Belkeziz, placed 1,812th in the global ranking. The bank posted revenues of $3.3 billion, profits of $416 million, assets valued at $53.5 billion, and a market capitalization of $5.97 billion. Established in 1926 with headquarters also in Casablanca, BCP operates as a commercial bank focusing on banking intermediation and management services. The institution employs 2,717 people and was formally incorporated on February 2, 1961. The Forbes Global 2000 list, now in its 23rd edition, evaluates companies based on four equally weighted criteria: revenue, profits, assets, and market value. Africa's representation in the ranking remains limited, with only 17 companies making the cut. South Africa dominates the continental presence with 14 companies, followed by Morocco with two and Egypt with one. Attijariwafa Bank and BCP rank 6th and 16th, respectively, among African entries. The global ranking continues to be topped by American companies, with JPMorgan Chase maintaining its top position for the third consecutive year. The US has 612 companies on the list, while China follows with 317. The top 10 global companies include JPMorgan (USA), Berkshire Hathaway (USA), ICBC (China), Saudi Aramco (Saudi Arabia), Amazon (USA), Bank of America (USA), China Construction Bank (China), Agricultural Bank of China (China), Alphabet (USA), and Microsoft (USA). Collectively, the 2,000 companies in this year's ranking represent $52.9 trillion in annual revenue, $4.9 trillion in profits, $242.2 trillion in assets, and a combined market capitalization of $91.3 trillion. Banking remains the most represented industry in the ranking with 328 institutions. The sector's strong presence is partly attributed to banks' naturally high asset values, with 88 of the top 100 companies by assets being financial institutions. Read also: Morocco's Corporate Dominance: 14 Firms Rule North Africa's Top 20 Tags: Attijariwafa Bank GroupBanque Centrale Populaire (BCP)Forbes
