SICO Reports BD 572 thousand (USD 1.5 million) Net Profit Attributable to Shareholders for the Quarter Ended 31 March 2026

SICO recorded a consolidated net profit attributable to shareholders amounting to BD 0.57 million (USD 1.5 million) in the first quarter of 2026, compared to BD 1.4 million (USD 3.7 million) recorded in the same quarter last year, reflecting a 59% year-on-year decline. This decrease was primarily attributable to unrealized losses in the Bank’s investment portfolio arising from a decline in market values. Earnings per share (EPS) stood at 1.40 Bahraini fils in the first quarter of 2026 versus 3.42 Bahraini fils in the same period last year. SICO’s total comprehensive income attributable to shareholders amounted to BD 9 thousand (USD 24 thousand) for the first quarter of 2026, compared to BD 1.4 million (USD 3.7 million) reported in the same quarter of last year, representing a 99% decrease.

Total operating income for the first quarter of 2026 was BD 4.6 million (USD 12.2 million) compared to BD 5.8 million (USD 15.3 million) achieved in the same period of the previous year, reflecting a year-on-year drop of 20%.

Net investment income for the first quarter of 2026 decreased 76% to BD 157 thousand (USD 416 thousand) from BD 649 thousand (USD 1.7 million) in the first quarter of 2025. Net fee income stood at BD 2.6 million (USD 6.8 million) for the quarter, down by 15% from BD 3.0 million (USD 8.0 million) in the same period last year. Net interest income for 1Q26 was BD 990 thousand (USD 2.6 million) versus BD 1.3 million (USD 3.5 million) in first quarter of 2025, a 26% year-on-year drop. Brokerage and other income rose by 16% during the period, reaching BD 891 thousand (USD 2.4 million) compared to BD 769 thousand (USD 2.0 million) in the first quarter of 2025.

Total equity attributable to shareholders stood at BD 72.9 million (USD 193.3 million) as at 31 March 2026, a 4% decline from BD 76.1 million (USD 201.8 million) as at 31 December 2025 noting that a dividend of BD 3.2 million (USD 8.5 million) was paid to the equity shareholders for the year 2025. Meanwhile, total assets rose by 8% to BD 643.3 million (USD 1.7 billion) as at 31 March 2026 from BD 595.4 million (USD 1.6 billion) as at 31 December 2025.

On a gross basis (including leverage) SICO’s assets under management (AUMs) rose 1% to BD 3.12 billion (USD 8.28 billion), compared to BD 3.08 billion (USD 8.16 billion) at year-end 2025. This growth was achieved despite the declines witnessed across most equity and fixed income markets.

Chairman of the Board of SICO, Mr. Abdulla Kamal, commented on SICO’s performance for the first quarter of 2026, saying, “In an environment characterized by heightened global and regional uncertainty, we prioritized safeguarding client interests, upholding rigorous risk management, and ensuring seamless operational continuity. SICO delivered profitability and growth in assets under management, supported by a strong balance sheet and a clear strategic vision. We remain firmly committed to our strategy of expanding our geographic footprint, creating long-term value, and strengthening the resilience needed to navigate evolving market conditions while mitigating risks.”

Group Chief Executive Officer of SICO, Ms. Najla Al-Shirawi, said, “SICO’s performance during the first quarter of 2026 reflected the impact of ongoing geopolitical developments across global and regional markets, which temporarily affected the performance of certain business lines. Despite challenging market conditions, SICO continues to be the Kingdom’s leading broker, with a 58% market share in the first quarter of 2026, and the most active market maker for 28 consecutive years.

During the quarter, SICO also applied to the relevant regulatory authorities to launch the “SICO GCC Dividends Fund” in the Kingdom of Saudi Arabia, while successfully executing a number of landmark transactions. These included the IPO and listing of Silah Gulf Company, as well as the signing of the definitive agreement for Bahrain Family Leisure Company’s acquisition of Truffle Hospitality Holding Company.

At the same time, SICO continues to advance a strong pipeline of transactions currently under execution, including Shariah-compliant debt capital market issuances, cross-border mergers and acquisitions transactions in the fintech sector, mergers in the services sector, and the structuring of a corporate lending framework for an investment fund.”

SICO received multiple prestigious accolades in 2026. These included being named Best Investment Bank in Bahrain at the Global Finance World’s Best Investment Banks Awards for the seventh consecutive year. SICO was also 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.

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.

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