SICO reports BD 6.0 million net profit for the year ended 31 December 2019 an increase of 63% from the previous year

Manama, Kingdom of Bahrain – 2 March 2020 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the final quarter and full year ended 31 December 2019.

On a quarterly basis, SICO’s consolidated net profit for the fourth quarter of 2019 was BD 2.5 million, marking a 457% increase compared to BD 441 thousand from the same quarter in 2018. The bank’s net operating income recorded BD 5.3 million in the fourth quarter of the year, increasing by 121% from BD 2.4 million in the last quarter of 2018. Total operating expenses for the final quarter of 2019 were BD 2.9 million versus BD 1.9 million recorded in the same quarter of last year. EPS for Q4 in 2019 were 6.65 Bahraini fils compared to the 1.19 Bahraini fils recorded in the fourth quarter of 2018. Total comprehensive income for the fourth quarter of 2019 increased by 646% to BD 2.8 million from the BD 369 thousand recorded in Q4 of 2018.

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