SICO, licensed as a conventional wholesale bank by the Central Bank of Bahrain (CBB), said its consolidated net profit attributable to shareholders grew 6% year-on-year, to record BD2.2 million ($5.7 million) in the third quarter of 2025 compared to BD2 million ($5.4 million) for the same quarter last year.
This increase is primarily due to the effective management of the investment book which enabled the bank to benefit from the improved performance of global markets, SICO said.
Earnings per share (EPS) recorded 5.30 Bahraini fils in the third quarter of the year versus 4.99 Bahraini fils in the comparable quarter of 2024.
SICO reported total comprehensive income attributable to shareholders of BD2.3 million ($6.2 million) for the third quarter of 2025, compared to a total comprehensive income of BD2.5 million ($6.7 million) reported in the same quarter of last year, representing a decline of 9%.
Total operating income for the third quarter of 2025 stood at BD6.1 million ($16.2 million) compared to BD6.4 million ($16.9 million) achieved in the same period of the previous year, reflecting a decrease of 4%.
On a year-to-date basis, SICO recorded consolidated net profit attributable to shareholders for the nine months of 2025 amounting to BD5.1 million ($13.5 million), representing a 2% decrease from the BD5.2 million ($13.8 million) recorded in the first nine months of 2024. This decrease was primarily driven by lower brokerage activities in regional markets during the period.
EPS stood at 12.45 Bahraini fils for the nine months of 2025 compared to 12.76 Bahraini fils for the same period last year. SICO reported total comprehensive income attributable to shareholders of BD5.4 million ($14.3 million) for the nine months of 2025, as compared to a total comprehensive income of BD5.6 million ($14.7 million) reported in the nine months of 2024, inching down 3%.
There was an increase of 6% to the total operating income, which grew to BD17.6 million ($46.6 million) from BD16.6 million ($44 million) in the same period last year.
Total equity attributed to shareholders increased by 3% to BD76.1 million ($201.8 million) as of 30 September 2025 compared to BD74.0 million ($196.2 million) recorded at year-end 2024. Total assets increased by 38% to BD568.4 million ($1.5 billion) as of 30 September 2025 compared to BD411.2 million ($1.1 billion) recorded at year-end 2024.
On a gross basis (including leverage) SICO’s assets under management (AUMs) rose 10% to BD3.0 billion ($8.1 billion) in the first nine months of the year, compared to BD2.8 billion ($7.4 billion) at year-end 2024. The growth in AUMs was driven by expansion in client base and the launch of new funds and products along with additional inflow from existing clients across asset classes, SICO said.
SICO Chairman Abdulla Kamal said: “SICO’s strong performance in the third quarter reflects the effectiveness of our strategy in capturing growth opportunities and expanding our client base across the region. Our ongoing investments in digital transformation and in strengthening the capabilities of our subsidiaries in Saudi Arabia and the UAE are also supporting the execution of our future plans aimed at creating sustainable value for our clients and shareholders.”
Group Chief Executive Officer Najla Al-Shirawi said: “Our nine-month results clearly reflect the successful execution of our strategy to expand non-cyclical revenue streams while strengthening our regional presence through our subsidiaries — SICO Capital in Saudi Arabia and SICO Invest in the UAE — as well as through our strategic partnerships. During the quarter, we continued to broaden our offering with innovative Shariah-compliant solutions in Bahrain and the wider MENA region, driving growth in assets under management. We also concluded a number of investment banking mandates which supported strong growth in fee-based income. Additionally, our decisive focus on investment and treasury activities, coupled with the efficient deployment of our liquidity through favorable interest rate environments and proactive asset allocation contributed significantly to the 34% rise in net investment income.” – TradeArabia News Service
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