Banque Centrale Populaire (BCP) is planning to buy back some of its own shares after receiving initial approval from Morocco’s capital markets regulator. The Moroccan Capital Market Authority (AMMC) approved the information notice for the programme on 9 June 2026. However, the plan still needs the green light from shareholders at the bank’s annual general meeting on 24 June.
If approved, BCP will be allowed to hold up to 10.2 million shares, equal to 5% of its capital.
The bank has set a maximum purchase price of 374 dirhams per share and a minimum selling price of 201 dirhams. The programme would run from 20 July 2026 until 20 January 2028.
BCP shares were trading at around 242.4 dirhams in June, comfortably within the approved price range. Over the past year, the stock has traded between 230 dirhams and 350 dirhams.
With a market value of about 49.4 billion dirhams, BCP is one of the largest companies listed on the Casablanca Stock Exchange.
The buyback comes as Morocco’s stock market continues to grow. Total market value on the Casablanca Stock Exchange has risen to more than 1.036 trillion dirhams.
Trading activity has also increased sharply. Total trading volumes reached 108.7 billion dirhams, while average daily trading nearly doubled from 305 million dirhams to 613 million dirhams.
Individual investors are becoming more active and now account for around 30% of stock market transactions. Investment funds remain the biggest group of investors, representing 33% of trading activity.
BCP’s programme is part of a wider trend of share buybacks approved by the AMMC this month, alongside similar plans from Cosumar and TotalEnergies.
