SICO Reports BD 5.5 million (USD 14.6 million) Net Profit Attributable to Shareholders for the Year Ended 31 December 2025
For the quarter, SICO’s recorded a consolidated net profit attributable to shareholders of BD 0.43million (USD 1.1 million) compared to BD 0.29 million (USD 0.8 million) in the last quarter of theprevious year, a 46% year-on-year rise.The increase was mainly driven by higher investmentrelated income and brokerage & other income. Earnings per share (EPS) were 1.04 Bahraini filsin the fourth quarter of 2025 versus 0.72 Bahraini fils in the same period last year. SICO reportedtotal comprehensive loss for the quarter of BD 27 thousand (USD 72 thousand) for the fourth quarterof 2025, compared to a total comprehensive income of BD 0.14 million (USD 0.38 million) reportedin the same quarter of last year.
Total operating income for the fourth quarter of 2025 stood at BD 5.3 million (USD 14.1 million)compared to BD 5.0 million (USD 13.2 million) achieved in the same period of the previous year,reflecting an increase of 7%.
For the full year, SICO reported BD 5.5 million (USD 14.6 million) in consolidated net profitattributable to shareholders, unchanged from the last year. EPS stood at 13.49 Bahraini fils for 2025compared to 13.48 Bahraini fils for 2024. SICO reported total comprehensive income attributable toshareholders of BD 5.4 million (USD 14.2 million) for the full year 2025, a 6% decrease from BD 5.7million (USD 15.1 million) recorded in 2024.Total operating income saw an increase of 6%, which grew from BD 21.6 million (USD 57.2 million)in 2024 to BD 22.9 million (USD 60.7 million) in 2025.
SICO’s net investment income for the year grew 40% to BD 4.2 million (USD 11.2 million) comparedto BD 3.0 million (USD8.0 million) in 2024. Net fee income witnessed a marginal growth in 2025 andstood at BD 11.0 million (USD 29.1 million) compared to BD 10.8 million (USD 28.8 million) recordedin 2024. Meanwhile net interest income saw a 6% increase to BD 4.2 million (USD 11.1 million) fromBD 3.9 million (USD 10.5 million) in 2024. Finally, brokerage and other income came in at BD 3.5million (USD 9.4 million) for the year, a 6% decline from the BD 3.8 million (USD 10.0 million)recorded in 2024. primarily due to the market conditions that led to lower brokerage activities in theregional markets.
Total equity attributable to shareholders increased to BD 76.1 million (USD 201.8 million) as of 31December 2025, a 2.8% rise from BD 74.0 million (USD 196.2 million) at the end of 2024. Totalassets increased by 45% to BD 595.4 million (USD 1.6 billion) compared to BD 411.2 million (USD1.1 billion) at year-end 2024.
Based on this performance, SICO’s Board of Directors has recommended a dividend of7.5% of the eligible share capital, aggregating to BD 3.2 million (USD 8.5 million), subject tothe approval of the Central Bank of Bahrain (CBB) and the General Assembly.
On a gross basis (including leverage) SICO’s assets under management (AUMs) rose 11% to BD3.1 billion (USD 8.2 billion), compared to BD 2.8 billion (USD 7.4 billion) at year-end 2024. Thegrowth in AUMs was driven by expansion in client base and additional inflows from existing clientsacross asset classes.
Chairman of the Board of SICO, Mr. Abdulla Kamal, commented on SICO’s full year performance,saying, “SICO’s performance in 2025 is a testament to the resilience of our diversified businessmodel and our ability to navigate a year characterized by regional and global market shifts. Thecontinued growth in operating income underscores the effectiveness of our long-term strategy andthe strength of SICO’s business model. The Board remains focused on delivering sustainable valueto shareholders through ongoing investment in human capital and digital transformation,strengthening governance frameworks, and reinforcing the Group’s regional presence—particularlyin the Kingdom of Saudi Arabia and the United Arab Emirates—while continuing to play an activerole in supporting Bahrain’s economic ecosystem and the region’s capital markets.”
Group Chief Executive Officer of SICO, Ms. Najla Al-Shirawi, said, “This year’s results wereunderpinned by an exceptional 40% surge in net investment income, as our proactive assetallocation allowed us to capitalize on favorable global market performance. We reached a significantmilestone by surpassing USD 8 billion in assets under management, driven by a growing client baseand the successful launch of innovative conventional and Shariah-compliant solutions. Whilebrokerage activity was impacted by lower regional market volumes, our investment banking andtreasury activities remained robust. Looking ahead to 2026, we remain focused on achieving furthergrowth and diversification across our investment services.”
SICO received multiple prestigious accolades in 2025. These included being named BestInvestment Bank in Bahrain at the Global Finance World’s Best Investment Banks Awards for thesixth consecutive year, as well as Best MENA Fixed Income Strategy (1 Year) for 2024 by the Global Banking & Markets Middle East Awards.At the Euromoney Awards 2025, SICO was also recognized as Best Investment Bank and BestBank for Diversity and Inclusion in Bahrain. In addition, the firm was awarded Best DiscretionaryPortfolio Management (DPM) in MENA at the 2025 MENA Wealth and Private Banking Awards byMEED.Most recently, SICO was honored at the Financial Times 2026 Asset Management ExcellenceAwards Middle East, receiving Best Overall Asset Manager, Shariah-Compliant Strategy of theYear, and Outstanding Female Leadership in Asset Management. The firm remains the Kingdom’sleading broker, holding an 82% market share, and has been the most active market maker for 27consecutive years.
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.
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