SICO Reports BD 1.9 Million Net Profit for First Quarter 2019
14/05/2019Manama, Kingdom of Bahrain – 14 May 2019 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the first quarter ended 31 March 2019. SICO’s consolidated net profit for the first quarter increased 31% to BD 1.9 million compared with BD 1.4 million for the corresponding period in 2018. Net operating income grew 40% to BD 4.5 million from BD 3.2 million achieved in the same quarter of 2018 reflecting strong growth in the top line performance. Total operating expenses, including staff overheads, general administration and other expenses, increased 14% to BD 1.9 million from BD 1.6 million for the same period last year. First quarter 2019 earnings per share (EPS) were 5.03 Bahraini fils compared to 3.85 Bahraini fils in the same period last year. Total comprehensive income grew 26% to BD 1.9 million from BD 1.5 million in the first quarter of 2018.