SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), was named Best Investment Bank in Bahrain at the 2021 Global Finance World's Best Investment Banks awards for the second consecutive year. The prestigious recognition is the latest in a long list of accolades that SICO has received over the years for its consistent ability to adapt to challenging market conditions and deliver exceptional results.
For over two decades, SICO has been the investment house of choice in the Bahraini market for equity and debt capital market transactions, M&A deals and advisory services thanks to its team of highly experienced professionals and ability to offer a comprehensive range of tailored financial services.
“Our investment banking division had an extremely successful year, in spite of challenging market conditions, which saw them take the lead on a number of important deals including the acquisition of Bahrain Islamic Bank (BISB) by National Bank of Bahrain (NBB), one of Bahrain’s largest transactions to date as well as plans to launch a full suite of on-the-ground services in Saudi Arabia through our acquisition of Muscat Capital,” said SICO CEO Najla Al-Shirawi. “This recognition by Global Finance is a great honor that attests to the capabilities of our exceptionally talented team whose hard work and dedication have allowed our clients to continue to regard us as Bahrain’s gateway to capital markets.”
Despite a volatile year for global equity and debt capital markets, SICO Investment Banking cemented its position as the Bahraini market’s preferred partner on landmark transactions. In January 2020, the division closed its mandate as issue execution adviser, receiving agent, and allotment agent on the acquisition of BISB by NBB, which resulted in the latter acquiring a controlling stake amounting to 78.81% in BISB. In February 2020, SICO Investment Banking was appointed by Kuwait Finance House (KFH) as Bahrain receiving agent, Bahrain execution adviser and cross-listing adviser in KFH’s offer to acquire Ahli United Bank (AUB) KFH obtained permission from the Central Bank of Bahrain (CBB) in April 2020 to postpone the acquisition due to the COVID 19 pandemic. Additionally, the team’s expertise in providing discrete private advisory services remained in high demand during the year.
“With widespread expectations of consolidation in multiple sectors and all around the world, investment banks will play a leading role in reshaping the world economy post- pandemic. In the Middle East and Bahrain, SICO played a key role in Bahrain’s recent Merger and acquisition transactions in 2020 and is poised for critical roles in future consolidation across the region” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
Global Finance award winners are selected based on a number of criteria, including market share, number and size of deals, level of service and advice offered to clients, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation.
SICO’s robust operational performance during the year has been recognized by a number of awarding bodies. Among the awards received by SICO in 2020 are:
- “Bahrain's Best Investment Bank" by Global Finance
- “Best Investment Bank in Bahrain" by Euromoney Awards
- “Best Investment Bank in Bahrain" by Global Banking and Finance Awards
- “Asset Management Company of the Year" by Global Banking and Finance Awards
- “Best Securities Brokerage in Bahrain" by Global Banking and Finance Awards
- “Bahrain Asset Manager of the Year 2020” by Global Investor Group
- “MEA Fixed Income Manager of the Year 2020” by Global Investor Group
- “Best Equity Research House in Bahrain” by International Business Magazine
- The Next 100 Global Awards Banking Group and Investment Banking categories
- “Best Local Investment Bank in Bahrain” by EMEA Finance
- “Best Broker in Bahrain” by EMEA Finance
- “Best Asset Management in Bahrain” by EMEA Finance
SICO is a leading regional asset manager, broker, and investment bank, with USD 2.3 bn in assets under management (AUM). Today SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees three wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Financial Brokerage, a specialised regional custody house, SICO Fund Services Company (SFS), and a Saudi-based asset management provider, SICO Financial Saudi Company. 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 100 exceptional employees.
© Press Release 2021