Manama, Kingdom of Bahrain – SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the fourth quarter and year ended 31 December 2025.

For the quarter, SICO’s recorded a consolidated net profit attributable to shareholders of BD 0.43 million (USD 1.1 million) compared to BD 0.29 million (USD 0.8 million) in the last  quarter of the previous year, a 46% year-on-year rise.The increase was mainly driven by higher investment related income and brokerage & other income. Earnings per share (EPS) were 1.04 Bahraini fils in the fourth quarter of 2025 versus 0.72 Bahraini fils in the same period last year. SICO reported total comprehensive loss for the quarter of BD 27 thousand (USD 72 thousand) for the fourth quarter of 2025, compared to a total comprehensive income of BD 0.14 million (USD 0.38 million) reported in the same quarter of last year.

Total operating income for the fourth quarter of 2025 stood at BD 5.3 million (USD 14.1 million) compared to BD 5.0 million (USD 13.2 million) achieved in the same period of the previous year, reflecting an increase of 7%.

For the full year, SICO reported BD 5.5 million (USD 14.6 million) in consolidated net profit attributable to shareholders, unchanged from the last year. EPS stood at 13.49 Bahraini fils for 2025 compared to 13.48 Bahraini fils for 2024. SICO reported total comprehensive income attributable to shareholders of BD 5.4 million (USD 14.2 million) for the full year 2025, a 6% decrease from BD 5.7 million (USD 15.1 million) recorded in 2024.

Total operating income saw an increase of 6%, which grew from BD 21.6 million (USD 57.2 million) in 2024 to BD 22.9 million (USD 60.7 million) in 2025.  

SICO’s net investment income for the year grew 40% to BD 4.2 million (USD 11.2 million) compared to BD 3.0 million (USD8.0 million) in 2024. Net fee income witnessed a marginal growth in 2025 and stood at BD 11.0 million (USD 29.1 million) compared to BD 10.8 million (USD 28.8 million) recorded in 2024. Meanwhile net interest income saw a 6% increase to BD 4.2 million (USD 11.1 million) from BD 3.9 million (USD 10.5 million) in 2024. Finally, brokerage and other income came in at BD 3.5 million (USD 9.4 million) for the year, a 6% decline from the BD 3.8 million (USD 10.0 million) 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 BD 76.1 million (USD 201.8 million) as of 31 December 2025, a 2.8% rise from BD 74.0 million (USD 196.2 million) at the end of 2024. Total assets increased by 45% to BD 595.4 million (USD 1.6 billion) compared to BD 411.2 million (USD 1.1 billion) at year-end 2024.

Based on this performance, SICO’s Board of Directors has recommended a dividend of 7.5% of the eligible share capital, aggregating to BD 3.2 million (USD 8.5 million), subject to the approval of the Central Bank of Bahrain (CBB) and the General Assembly.

On a gross basis (including leverage) SICO’s assets under management (AUMs) rose 11% to BD 3.1 billion (USD 8.2 billion), 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 and additional inflows from existing clients across asset classes.

Chairman of the Board of SICO, Mr. Abdulla Kamal, commented on SICO’s full year performance, saying, “SICO’s performance in 2025 is a testament to the resilience of our diversified business model and our ability to navigate a year characterized 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 the Kingdom of 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.”

Group Chief Executive Officer of SICO, Ms. Najla Al-Shirawi, said, “This year’s results were underpinned by an exceptional 40% surge in net investment income, as our proactive asset allocation allowed us to capitalize on favorable global market performance. We reached a significant milestone by surpassing USD 8 billion in assets under management, driven by a growing client base and the successful launch of innovative conventional and Shariah-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.”

SICO received multiple prestigious accolades in 2025. These included being named Best Investment Bank in Bahrain at the Global Finance World’s Best Investment Banks Awards for the sixth consecutive year, as well as 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 recognized as Best Investment Bank and Best Bank for Diversity and Inclusion in Bahrain. In addition, the firm was awarded Best Discretionary Portfolio Management (DPM) in MENA at the 2025 MENA Wealth and Private Banking Awards by MEED.

Most recently, SICO was honored at the Financial Times 2026 Asset Management Excellence Awards Middle East, receiving Best Overall Asset Manager, Shariah-Compliant Strategy of the Year, and Outstanding Female Leadership in Asset Management. The firm remains the Kingdom’s leading broker, holding an 82% market share, and has been the most active market maker for 27 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.

About SICO

SICO is a leading regional asset manager, broker, market maker and investment bank, with over USD 8.2 bn in assets under management (AUM). Today SICO operates under a wholesale banking licence from the Central Bank of Bahrain and oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a Saudi-based investment banking company, SICO Capital. 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 across the Group.

Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Email: noweis@sicobank.com