SICO Reports BD 2.5 million (USD 6.6 million) Net Profit Attributable to Shareholders of the Bank in the First Half of 2022

On a quarterly basis, SICO recorded a consolidated net profit attributable to shareholders amounting to BD 280 thousand (USD 730 thousand) in the second quarter of 2022 compared to BD 1.57 million (USD 4.2 million) recorded in the same quarter last year, an 82% year-on-year decline. Lower profitability for the quarter is primarily attributed to the challenging regional and global markets conditions witnessed during the quarter,  which resulted in SICO’s proprietary book posting unrealized losses. Earnings per share (EPS) recorded 0.65 Bahraini fils in the second quarter of the year compared to 3.74 Bahraini fils in the second quarter of 2021. SICO reported a total comprehensive loss of BD 180 thousand (USD 480 thousand) for the second quarter of 2022 compared a total comprehensive income of BD 1.8 million (USD 4.7 million) booked in the same quarter last year.

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