Casablanca Stock Exchange: 29.4 billion dirhams profit for listed companies

Consolidated profits of companies listed on the Casablanca Stock Exchange increased by 7.4 percent during the first half of 2026, reaching AED 29.4 billion, according to the calculations of the brokerage company M.S.IN. This improvement comes at a time when the number of transactions of these companies jumped to 196 billion dirhams, an increase of 10.6 percent, equivalent to an additional 18.7 billion dirhams compared to the same period last year. The metals sector is at the forefront The mining sector tops the list of the most contributing sectors to this growth, adding 7.8 billion dirhams to the total transaction figure, an increase of nearly 145 percent, benefiting from the rise in gold and copper prices in global markets. Managem Group is the main driver of this performance, having almost doubled its turnover to AED 11.76 billion, achieving alone AED 7.3 billion of the recorded increase, while CMT and SMI also recorded a significant improvement. Banks and insurance support performance The banking sector achieved a combined net profit of AED 13.3 billion, an increase of 6.7 percent, while net banking output increased by 1.34 percent to AED 49.7 billion, driven by improved interest margin of 8.1 percent and commission margin of 6.6 percent, while risk cost decreased by 34.7 percent from AED 6.9 billion to AED 4.5 billion. Among the most prominent contributors to this improvement are the Central People's Bank with an increase of 302.8 million dirhams, the Bank of Africa with 230.2 million dirhams, in addition to BMCI Bank whose net profit increased 62 percent to 354 million dirhams . The insurance sector also witnessed a jump in the number of transactions by 3.2 billion dirhams, an increase of 21.2 percent, led by Wafa Insurance with 2.1 billion dirhams and Sanlam Morocco with 668 million dirhams. Distribution, hydrocarbons and telecommunications for its part, the distribution sector added AED 2.4 billion to its turnover, an increase of 16 percent, thanks to the performance of "Label in" (+1.5 billion dirhams) and"Auto Hall" (+667 million dirhams). In the hydrocarbon sector, Total Energy Morocco's turnover increased by 8.8 percent, or AED 1.1 billion, while the sector added Telecom 968 million dirhams, up 5.4 percent, with Maroc Telecom back improving supported by the growth of its African subsidiary Moov Africa. Performance of sectors contributing to the growth of Casablanca Stock Exchange profits during the first half of 2026 Sector Percentage change The most important shareholders Mining +145% (7.8 billion dirhams) Mines, CMT, SMI Banks (net profits) +6.7% (13.3 billion dirhams) Popular Bank, Bank of Africa, BMCI Insurance +21.2% (3.2 billion dirhams) Wafa Insurance, Sanlam Morocco Distribution +16% (2.4 billion dirhams) Label in, Otto Hull hydrocarbons +8.8% (1.1 billion dirhams) Total Energy Morocco Telecom +5.4% (968 million dirhams) Morocco Telecom (Moov Africa) Focused growth, not comprehensive, but this overall improvement hides a more uneven reality between sectors: Without the contribution of Morocco Mines and Telecom Group alone, the profit growth rate does not exceed only 1.3%, which means that the jump in the profits of the Casablanca Stock Exchange is largely based on a sector linked to the fluctuations in metal prices in global markets. This performance comes at a time when the growth of the overall Moroccan economy is slowing to 4 percent , according to the latest data of the High Commission for Planning, which puts questions on the extent to which this remarkable financial performance reflects on the real economy and employment.