• SICO’s AUMs grew 12% year-to-date to BD 3.5 billion (USD 9.2 billion).
Manama, Kingdom of Bahrain – 12 November 2026 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the third quarter and nine months ended 30 September 2026.
For the quarter, SICO’s consolidated net profit attributable to shareholders declined 75% year-onyear to BD 0.54 million (USD 1.4 million) in the third quarter of 2026, compared to BD 2.2 million(USD 5.7 million) recorded in the same three-month period of last year. This decrease was primarilyattributable to unrealized losses in the Bank’s investment portfolio arising from a decline in marketvalues and lower brokerage income, reflecting the impact of broader geopolitical tensions. Earningsper share (EPS) recorded 1.33 Bahraini fils in the third quarter of the year versus 3.73 Bahraini filsin the comparable quarter of 2025. SICO reported a total comprehensive loss attributable toshareholders of BD 250 thousand (USD 660 Thousand) for the third quarter of 2026, compared tototal comprehensive income of BD 2.3 million (USD 6.2 million) in the same quarter of last year,reflecting movements in the investments fair value reserve.
Total operating income for the third quarter of 2026 was BD 4.7 million (USD 12.4 million), 24% lowerthan the BD 6.1 million (USD 16.2 million) achieved in the same period of the previous year.
On a year-to-date basis, SICO recorded consolidated net profit attributable to shareholders of BD3.4 million (USD 8.9 million) for the nine months of 2026, a 34% decrease from BD 5.1 million (USD13.5 million) recorded in the first nine months of 2025. This variance was primarily driven by lowerinvestment, fee, and brokerage income for the period. EPS stood at 8.24 Bahraini fils for the ninemonths of 2026 compared to 12.45 Bahraini fils for the same period last year. Total comprehensive income attributable to shareholders amounted to BD 2.1 million (USD 5.5 million) for the nine monthsof 2026, compared to BD 5.4 million (USD 14.3 million) in the nine months of 2025, down 62%.
Total operating income for the nine months of 2026 was 9% lower at BD 16.0 million (USD 42.4million), compared to BD 17.6 million (USD 46.6 million) in the same period last year.
Total equity attributable to shareholders amounted to BD 74.9 million (USD 198.7 million) as of 30September 2026, down 2% from BD 76.1 million (USD 201.8 million) at year-end 2025, reflectingthe BD 3.2 million (USD 8.5 million) dividend for 2025 paid to shareholders during the second quarter. Total assets rose 18% to BD 705.6 million (USD 1.9 billion) as of 30 September 2026, compared toBD 595.4 million (USD 1.6 billion) at year-end 2025.
SICO’s net interest income increased 9% to BD 3.5 million (USD 9.2 million) for the nine months of2026, from BD 3.2 million (USD 8.5 million) in the same period last year. Net investment income wasBD 2.9 million (USD 7.8 million), a 16% decrease from BD 3.5 million (USD 9.3 million) in the firstnine months of 2025. Net fee income recorded BD 7.5 million (USD 19.9 million), down 12% fromBD 8.5 million (USD 22.6 million). Brokerage and other income came in at BD 2.1 million (USD 5.6million), a 12% decline from BD 2.4 million (USD 6.3 million).
On a gross basis (including leverage), SICO’s assets under management (AUMs) rose 12% to BD3.5 billion (USD 9.2 billion) as of 30 September 2026, compared to BD 3.1 billion (USD 8.2 billion)at year-end 2025. The growth in AUMs was driven by an expanding client base as well as newsubscriptions and mandates across asset classes.
Chairman of the Board of SICO, Mr. Abdulla Kamal, commented on SICO’s third quarterperformance, saying, “The past three quarters have presented a challenging geopolitical andeconomic environment, both regionally and globally, shaped by a reversing interest-rate cycle, tighterregional liquidity and heightened geopolitical uncertainty. SICO’s prudent risk managementapproach, robust capital position and diversified business model have helped us navigate marketvolatility, with continued growth across our assets under management, client base and net interestincome while other key income streams declined to varying degrees.We remain confident in our strategic direction and our ability to deliver sustainable long-term valuefor our clients and shareholders, while strengthening our position in the regional market.”
Group Chief Executive Officer of SICO, Ms. Najla Al-Shirawi, said, “Despite challenging marketconditions, SICO continued to deliver exceptional performance for its clients, while successfullycapturing new opportunities that contributed to growth in assets under management and assetsunder advisement, helping to mitigate the impact of market fluctuations on fee income. Across ourbusiness lines, we successfully completed an independent financial advisory mandate for anacquisition in the real estate sector and maintained our leading position in brokerage and liquidityprovision on Bahrain Bourse, supported by our regional and global markets platform and fixedincome capabilities. Looking ahead, our progress towards establishing SICO Wealth, our wealth management company in Abu Dhabi, marks an important milestone in expanding our offering andstrengthening our ability to serve the evolving needs of clients across regional markets.”
During 2026, SICO has received several awards, including most recently Best Broker in Bahrain andBest Equities House in the Middle East at the Euromoney Markets Awards 2026, Best InvestmentBank in Bahrain at MEED’s MENA Banking Excellence Awards 2026, and Best Equity Broker inBahrain at the AFCM Awards 2025.
SICO is listed on Bahrain Bourse (“BHB”) and its code is SICO-C. The press release and full set offinancial statements will be available on SICO and BHB websites.
For the full release in English & Arabic, click here
