SICO reports BD 2.9mln (USD 7.7mln) net profit attributable to shareholders for the first half of 2025
For the quarter, SICO's consolidated net profit attributable to shareholders grew 16% year-on-year, to record BD 1.5 million (USD 4 million) in the second quarter of 2025 compared to BD 1.3 million (USD 3.5 million) recorded in the same three-month period of last year. The improvement is mostly related to the increase in net investment income during the quarter compared to the corresponding period last year, due to favourable global market conditions. Earnings per share (EPS) recorded 3.73 Bahraini fils in the second quarter of the year versus 3.23 Bahraini fils in the comparable quarter of 2024. SICO reported total comprehensive income of BD 1.7 million (USD 4.5 million) for the second quarter of 2025, compared to a total comprehensive income of BD 1.2 million (USD 3.2 million) booked in the same quarter of last year, representing an increase of 39%.
Total operating income for the second quarter of 2025 increased by 17% to BD 5.7 million (USD 15.2 million) as compared to BD 4.9 million (USD 13.0 million) achieved in the same period of the previous year.
On a year-to-date basis, SICO recorded consolidated net profits attributable to shareholders for the first six months of 2025 amounting to BD 2.9 million (USD 7.7 million), representing an 8% decline from the BD 3.2 million (USD 8.4 million) recorded in the first half of 2024. This decrease was primarily driven by lower brokerage activities during the period, reflecting reduced investor appetite for trading amid prevailing market uncertainty. EPS were 7.15 Bahraini fils for the first six months of 2025 compared to 7.77 Bahraini fils for the same period of 2024. SICO reported total comprehensive income of BD 3.1 million (USD 8.1 million) for the first half of 2025, as compared to a total comprehensive income of BD 3.0 million (USD 8.0 million) booked in the first six months of 2024, reflecting a 2% increase.
Total equity attributed to shareholders stood at BD 73.8 million (USD 195.7 million) as of 30 June 2025 a slight decrease by 0.3% compared to BD 74 million (USD 196.2 million) recorded at year-end 2024, noting that a dividend of BD 3.2 million (USD 8.5 million) was paid to the equity shareholders for the year 2024, during the first quarter of 2025, while total assets increased 29% to BD 531.6 million (USD 1.4 billion) as 30 June 2025, up from BD 411.2 million (USD 1.1 billion) as of year-end 2024.
SICO's net fee income recorded BD 5.5 million (USD 14.7 million), a 16% increase from BD 4.8 million (USD 12.7 million) achieved in the first half of 2024. Furthermore, net investment income stood at BD 2.1 million (USD 5.6 million) in the first six months of 2025, increasing 40% from BD 1.5 million (USD 4.0 million) last year. Meanwhile, Brokerage and other income dropped 22% to BD 1.6 million (USD 4.1 million) compared to BD 2 million (USD 5.3 million) in first half of 2024, due to market volatility resulting from tariff uncertainty in late April and heightened geopolitical tensions in June 2025.
On a gross basis (including leverage) SICO's assets under management (AUMs) rose 9% to BD 3.0 billion (USD 8.0 billion) in the first half of the year compared to BD 2.8 billion (USD 7.4 billion) at year-end 2024. The growth in AUMs was driven by expansion in client base together with additional inflow from existing clients across asset classes.
Chairman of the Board of SICO, Abdulla Kamal, commented on SICO's second quarter performance, saying, 'SICO's performance in the second quarter of 2025 reflects the strength of our diversified platform and our ability to navigate evolving market conditions with discipline and foresight. Despite a more challenging macroeconomic and geopolitical backdrop, we have continued to deliver value through a prudent investment approach focused on generating positive returns while managing elevated risk levels. This reflects our firm commitment to our strategic objectives, which aim to drive sustainable long-term growth for our clients and shareholders. Our consistent recognition by global institutions is a testament to the trust we've built with our clients and stakeholders, and to the strategic clarity that guides our decisions.
Group Chief Executive Officer of SICO, Najla Al-Shirawi, added, 'We are pleased with our second quarter performance, driven by robust investment returns and sustained momentum across our core business lines. Surpassing USD 8 billion in assets under management is a major milestone, reinforces our commitment to delivering long-term value to our clients. We also recorded strong growth across all revenue streams, including investment income, asset management fees, and investment banking revenues. Our balance sheet remains robust, and with a healthy liquidity position, we remain well-positioned to capture future growth opportunities as markets continue to evolve.'
SICO was honored with multiple accolades in 2025, including Best Investment Bank in Bahrain at the Global Finance World's Best Investment Banks Awards for the sixth consecutive year, and Best MENA Fixed Income Strategy (1 Year) for 2024 by the Global Banking & Markets Middle East Awards. At the Euromoney Awards 2025, SICO was also named Best Investment Bank and Best Bank for Diversity and Inclusion in Bahrain. The firm remains the Kingdom's leading broker, holding an 89% market share as of June 2025, and has been the most active market maker for 26 consecutive years.
SICO is listed on Bahrain Bourse ('BHB') and its code is SICO-C. The press release and full set of financial statements will be available on SICO and BHB websites.
-Ends-
About SICO SICO is a leading regional asset manager, broker, and investment bank with USD 8.0 billion in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region's major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank's continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 150 exceptional employees.
Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Email: noweis@sicobank.com
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