SICO Announces BD 2.3 Million Net Profit for 2016

Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today its financial results for the fourth quarter and full fiscal year ending 31 December 2016.

Net consolidated profit for fiscal year 2016 was BD 2.3 million compared with BD 2.8 million in 2015, a decrease of around 18% due primarily to the continued volatility of regional and global equity markets during the year. Operating income reduced by around 6% to BD 7.9 million from BD 8.4 million the previous year. Total operating expenses which include staff overheads, general administration and other expenses, reduced to BD 5.3 million from BD 5.5 million in 2015, reflecting the Bank’s continued success in managing its costs effectively. Basic earnings per share in 2016 were Bahraini fils 5.5 versus 6.6 fils for the previous year.

The full press release in English & Arabic can be downloaded here.