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Top Treasury Securities Intermediaries 2025: Attijariwafa, BMCE Capital and BCP Lead the Pack
The Moroccan Ministry of Economy and Finance has released its 2025 ranking of Treasury‑securities intermediaries. Attijariwafa Bank, BMCE Capital and Banque Centrale Populaire (BCP) secured the three top spots based on their activity in the primary and secondary markets, participation in active debt‑management operations, compliance with electronic quotation rules and the quality of advisory services they provide. The assessment, carried out by the Treasury and External Finance Directorate (DTFE), reflects each bank’s ability to animate the market, support the government’s borrowing program and deliver timely, accurate information to the authorities.
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The Ministry of Economy and Finance of Morocco has unveiled its annual ranking of intermediaries in Treasury securities (IVT) for the year 2025. The list highlights the three banks that showed the highest level of activity and professionalism in the market for government bonds.
Top three performers
- Attijariwafa Bank
- BMCE Capital
- Banque Centrale Populaire (BCP)
These institutions earned their positions through a comprehensive assessment carried out by the Treasury and External Finance Directorate (DTFE). The evaluation criteria included:
- Quality of market‑making on the primary and secondary Treasury‑bill markets.
- Active participation in Morocco’s internal‑debt management operations.
- Adherence to the electronic quotation obligations for Treasury bills.
- Depth and relevance of advice and information supplied to the Treasury.
The ranking not only reflects each bank’s trading volume but also their capacity to support the government’s borrowing program and to provide timely, accurate data to the authorities.
For a closer look at the methodology and the full list of rankings, visit the Ministry’s official website.