Bahrain - SICO, licensed as a conventional wholesale bank by the Central Bank of Bahrain (CBB), has announced its consolidated results for the fourth quarter and year ended December 31, 2025.

For the quarter, SICO’s recorded a consolidated net profit attributable to shareholders of BD0.43 million ($1.1m) compared to BD0.29m ($0.8m) in the last quarter of the previous year, a 46 per cent year-on-year rise.

The increase was mainly driven by higher investment related income and brokerage and other income. Earnings per share (EPS) were 1.04 fils in the fourth quarter of 2025 versus 0.72 fils in the same period last year.

SICO reported total comprehensive loss for the quarter of BD27,000 for the fourth quarter of 2025, compared to a total comprehensive income of BD0.14m reported in the same quarter of last year.

Total operating income for the fourth quarter of 2025 stood at BD5.3m compared to BD5m achieved in the same period of the previous year, reflecting an increase of 7pc.

For the full year, SICO reported BD5.5m ($14.6m) in consolidated net profit attributable to shareholders, unchanged from the last year.

EPS stood at 13.49 fils for 2025 compared to 13.48 fils for 2024. SICO reported total comprehensive income attributable to shareholders of BD5.4m for the full year 2025, a 6pc decrease from BD5.7m recorded in 2024.

Total operating income saw an increase of 6pc, which grew from BD21.6m in 2024 to BD22.9m in 2025.

SICO’s net investment income for the year grew 40pc to BD4.2m compared to BD3m in 2024. Net fee income witnessed a marginal growth in 2025 and stood at

BD11m compared to BD10.8m recorded in 2024.

Meanwhile net interest income saw a 6pc increase to BD4.2m from BD3.9m in 2024. Finally, brokerage and other income came in at BD3.5m for the year, a 6pc decline from the BD3.8m recorded in 2024, primarily due to the market conditions that led to lower brokerage activities in the regional markets.

Total equity attributable to shareholders increased to BD76.1m as of December 31, 2025, a 2.8pc rise from BD74m at the end of 2024. Total assets increased by 45pc to BD595.4m compared to BD411.2m at year-end 2024.

Based on this performance, SICO’s board of directors has recommended a dividend of 7.5pc of the eligible share capital, aggregating to BD3.2m, subject to the approval of the CBB and the general assembly.

On a gross basis (including leverage) SICO’s assets under management (AUMs) rose 11pc to BD3.1 billion, compared to BD2.8bn at year-end 2024. The growth in AUMs was driven by expansion in client base and additional inflows from existing clients across asset classes.

SICO chairman Abdulla Kamal

Commenting on the full year performance, SICO chairman Abdulla Kamal said: “SICO’s performance in 2025 is a testament to the resilience of our diversified business model and our ability to navigate a year characterised by regional and global market shifts. The continued growth in operating income underscores the effectiveness of our long-term strategy and the strength of SICO’s business model.

“The board remains focused on delivering sustainable value to shareholders through ongoing investment in human capital and digital transformation, strengthening governance frameworks, and reinforcing the group’s regional presence – particularly in Saudi Arabia and the United Arab Emirates – while continuing to play an active role in supporting Bahrain’s economic ecosystem and the region’s capital markets.”

SICO Group chief executive Najla Al Shirawi said: “This year’s results were underpinned by an exceptional 40pc surge in net investment income, as our proactive asset allocation allowed us to capitalise on favourable global market performance. We reached a significant milestone by surpassing $8bn in assets under management, driven by a growing client base and the successful launch of innovative conventional and Sharia-compliant solutions.

“While brokerage activity was impacted by lower regional market volumes, our investment banking and treasury activities remained robust. Looking ahead to 2026, we remain focused on achieving further growth and diversification across our investment services.”

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