Moroccan Banking Giants Lead as 3 Firms Make Forbes Middle East Top 100

With assets of $64.5 billion and earnings of $420 million in 2020, Attijariwafa Bank, Morocco’s leading bank and the 4th in Africa, ranks 16th in this global ranking by Forbes. The Banque Centrale Populaire (BCP) is the second company to appear in this Top 100. It was ranked 31st, with assets of $49.9 billion and earnings of $144 million in 2020. The third Moroccan company in this Forbes ranking is the LafargeHolcim Maroc group, specialized in cement and concrete. It was ranked 73rd, with assets of $2.3 billion and earnings of $169 million in 2020.

The Middle East region was not spared by the Covid-19 health crisis that marked the year 2020, notes the American magazine, which adds that this year has been difficult for companies around the world, hard hit by the crisis. This annual ranking comes to highlight the most profitable and most valued firms in the region, the magazine points out, which has devoted its cover to Hatem Dowidar, the CEO of the Emirati telecoms giant, Etisalat Group, in which Maroc Telecom holds a 53% stake.