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), licensedas a conventional wholesale bank by the Central Bank of Bahrain “CBB”,announced today its consolidated results for the final quarter and full yearended 31 December 2019.
On a quarterly basis, SICO’s consolidated net profit for the fourth quarterof 2019 was BD 2.5 million, marking a 457% increase compared to BD441 thousand from the same quarter in 2018. The bank’s net operatingincome 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. Totaloperating expenses for the final quarter of 2019 were BD 2.9 millionversus BD 1.9 million recorded in the same quarter of last year. EPS forQ4 in 2019 were 6.65 Bahraini fils compared to the 1.19 Bahraini filsrecorded in the fourth quarter of 2018. Total comprehensive income forthe fourth quarter of 2019 increased by 646% to BD 2.8 million from theBD 369 thousand recorded in Q4 of 2018.
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