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Press releases

Press releases

SICO Successfully Completes BD 12 Million Capital Raise for Solidarity Bahrain — Marking Bahrain’s First-Ever Sharia-Compliant Tier 1 Preference Share Issuance

Solidarity Bahrain B.S.C., a leading Islamic insurance provider, has successfully raised BD 12 million through the issuance of Bahrain’s first Sharia-compliant, non-voting, non-cumulative, perpetual Tier 1 capital preference shares. The landmark transaction, offered via private placement to accredited shareholders, is aimed at strengthening the company’s Tier 1 capital and supporting its long-term growth strategy.

SICO’s Employee Saving Scheme Delivers up to 12.6% Annualized Returns

SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank with physical presence in Bahrain, Saudi Arabia, and the UAE, marked today the second year since the initiation of its Employee Saving Scheme (ESS), which launched in June 2023. Since its launch, the scheme has delivered consistently strong returns across all risk profiles, validating SICO’s disciplined investment strategy and global diversification approach.

SICO Signs a Letter of Intent with The Arab Authority for Agricultural Investment and Development (AAAID) to Boost Agricultural Investment and Food Security

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the signing of a Letter of Intent with the Arab Authority for Agricultural Investment and Development (AAAID). SICO will act as the financial advisor to support AAAID’s strategic initiatives by identifying and sourcing direct investment opportunities within the agricultural and food security sectors.

SICO’s Fixed Income Strategy Wins Best MENA Fixed Income Fund Strategy

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today that it has been awarded the prestigious award of Best MENA Fixed Income Strategy over 1 Year for 2024 by Global Banking & Markets Middle East Awards. The strategy achieved a remarkable net return of 5.4% in 2024, significantly outperforming the FTSE MENA Broad Bond Index, which recorded a return of 3.4%. This recognition marks the second time that SICO has received this esteemed award, following their recognition in 2022.

SICO Named Bahrain’s ‘Best Investment Bank’ and ‘Best Bank for Diversity & Inclusion’ at the 2025 Euromoney Awards for Excellence

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, UAE, and Saudi Arabia, proudly announced that it has once again been recognized at the Euromoney Middle East Awards for Excellence for its exceptional achievements as an investment bank, and its continued commitment to fostering a diverse and inclusive workplace culture.

SICO Reports BD 1.4 Million (USD 3.7 Million) Net Profit Attributable to Shareholders for the First Quarter of 2025

Manama, Kingdom of Bahrain – 13 May 2025 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the first quarter ended 31 March 2025.

SICO Appoints Ayman Gad-Allah as Head of Investment Banking

SICO BSC (c), a leading regional asset manager, broker, and investment bank with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the appointment of Ayman Gad-Allah as the new Head of Investment Banking of SICO.

Wissam Haddad Appointed as Chief Executive Officer of SICO Capital in Saudi Arabia

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with over USD 7 billion in assets under management and a direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the appointment of Wissam Haddad as Chief Executive Officer (CEO) of its wholly owned subsidiary, SICO Capital, in Riyadh, Saudi Arabia, effective 5 May 2025.

SICO Named Best Investment Bank in Bahrain at Global Finance World's Best Investment Banks 2025 Awards for Sixth Consecutive Year

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, was named Best Investment Bank in Bahrain at the 2025 Global Finance World's Best Investment Banks Awards for the sixth consecutive year. The award reaffirms SICO’s position as a trusted financial institution, consistently delivering strategic advisory services and executing landmark transactions that drive economic growth and capital market development in the MENA region.

January 20, 2021

SICO Retains Number One Broker Status on Bahrain Bourse

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), announced today that it had retained its status as the leading broker on the Bahrain Bourse (BHB) for the 22nd consecutive year.

December 29, 2020

SICO Named MENA Fixed Income Manager of the Year and Bahrain’s Asset Manager of the Year

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), was named MENA region’s Fixed Income Manager of the Year and Bahrain Asset Manager of the Year at the 2020 Global Investor Group MENA Awards. The accolades are the latest among numerous awards received by SICO and serve as testament to its operational excellence and solid track record across the GCC region.

December 20, 2020

SICO Signs Agreement to Acquire Majority Stake in Saudi- Based Muscat Capital

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today that it has signed an agreement with Bank Muscat SAOG to acquire a majority stake amounting to 72.71% in Saudi-based Muscat Capital, a wholly owned subsidiary of Bank Muscat.

September 6, 2020

SICO to embed IdealRatings ESG data, marking a new era for MENA investors

SICO BSC (c) a leading regional asset manager, broker, research house and investment bank, announced that it will begin embedding IdealRatings’ ESG data to be available as part of SICO’s research platform. This initiative by SICO is among the first in the MENA region to highlight ESG performance in company reports and comes as a response to the increasing demand for ESG data by clients.

September 1, 2020

SICO Perceives Strong Outlook for Major Players in Saudi Insurance Market

In the short-term, SICO perceives a positive outlook for the insurance market. Insurers in the healthcare sector should expect a temporary boost to their earnings owing to lower claims in 2Q20 as a result of less frequent hospital visits due to the coronavirus lockdown.

SICO Signs Agreement with Bahrain Bourse Offering New Sukuk-based Murabaha Service

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today that it has signed an agreement to begin offering the Bahrain Bourse’s newly established sukuk-based Murabaha service, launched in collaboration with the Central Bank of Bahrain (CBB), when conducting Islamic commodity Murabaha financing transactions with sukuks as collateral. The announcement was made at a virtual signing ceremony held on 14 July 2020 between SICO, The CBB and The Bahrain Bourse.

SICO Named Best Investment Bank, Best Asset Manager and Best Securities Brokerage in Bahrain

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), received a number of prestigious industry awards from Euromoney, Global Finance, and Global Banking and Finance. Among the accolades received were

SICO Concludes Annual General Meeting and Extraordinary General Meeting by Circulation; Approves 10% Cash Dividend

SICO BSC, announced today that it concluded on 24 March 2020 its Annual General Meeting (AGM) and an Extraordinary General Meeting (EGM) where 94.80% of the shareholders approved the items in the AGM and EGM agendas including the Board of Directors’ proposed distribution of BD 3.899 million in cash dividends for the financial year ended 31 December 2019 (10% of the nominal share value), representing 10 Bahraini fils per share.

February 25, 2020

SICO Appointed as Bahrain Receiving Agent, Bahrain Execution Advisor, and Cross-Listing Advisor for Kuwait Finance House’s Offer to Acquire 100% of Ahli United Bank

The cross-border acquisition would create a USD104 bn regional banking powerhouse that is set to become the world’s largest Islamic bank in terms of assets.

August 11, 2026

SICO Reports BD 2.8 million (USD 7.5 million) Net Profit Attributable to Shareholders for the First Half of 2026

SICO’s AUMs grew to BD 3.3 billion (USD 8.9 billion). Manama, Kingdom of Bahrain – 11 August 2026 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the second quarter and six months ended 30 June 2026.

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

SICO’s AUMs grew to BD 3.1 billion (USD 8.3 billion). Manama, Kingdom of Bahrain – 12 May 2026 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the quarter ended 31 March 2026.

February 23, 2026

SICO Reports BD 5.5 million (USD 14.6 million) Net Profit Attributable to Shareholders for the Year Ended 31 December 2025

Manama, Kingdom of Bahrain – 23 February 2026 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the fourth quarter and year ended 31 December 2025.

November 10, 2025

SICO Reports BD 5.1 million (USD 13.5 million) Net Profit Attributable to Shareholders for the Nine Months of 2025

For the quarter, SICO’s consolidated net profit attributable to shareholders grew 6% year-on-year, to record BD 2.2 million (USD 5.7 million) in the third quarter of 2025 compared to BD 2.0 million (USD 5.4 million) recorded in the same three-month period of last year.

August 12, 2025

SICO Reports BD 2.9 million (USD 7.7 million) Net Profit Attributable to Shareholders for the First Half of 2025

For the quarter, SICO’s consolidated net profit attributable to shareholders grew 16% year-on-year, to record BD 1.5 million (USD 4 million) in the second quarter of 2025 compared to BD 1.3 million (USD 3.5 million) recorded in the same three-month period of last year. The improvement is mostly related to the increase in net investment income during the quarter compared to the corresponding period last year, due to favourable global market conditions. Earnings per share (EPS) recorded 3.73 Bahraini fils in the second quarter of the year versus 3.23 Bahraini fils in the comparable quarter of 2024. SICO reported total comprehensive income of BD 1.7 million (USD 4.5 million) for the second quarter of 2025, compared to a total comprehensive income of BD 1.2 million (USD 3.2 million) booked in the same quarter of last year, representing an increase of 39%.

SICO Reports BD 1.4 Million (USD 3.7 Million) Net Profit Attributable to Shareholders for the First Quarter of 2025

Manama, Kingdom of Bahrain – 13 May 2025 SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the first quarter ended 31 March 2025.

February 25, 2025

SICO Reports BD 5.5 million (USD 14.6 million) in Net Profit Attributable to Shareholders for the Year Ended 31 December 2024, a 26% Increase from the Previous Year

Manama, Kingdom of Bahrain: SICO BSC (c), licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, announced today its consolidated results for the fourth quarter and year ended 31 December 2024.

November 13, 2024

SICO Reports BD 5.2 million (USD 13.8 million) Net Profit Attributable to Shareholders for the Nine Months of 2024, a 140% Increase from the Previous Year

Manama, Kingdom of Bahrain – 13 November 2024 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 2024.

August 12, 2024

SICO Reports BD 3.2 million (USD 8.4 million) Net Profit Attributable to Shareholders for the First Half of 2024, a 95% Increase from the Previous Year

For the quarter, SICO’s consolidated net profit attributable to shareholders grew 47% year-on-year, to record BD 1.3 million (USD 3.5 million) in the second quarter of 2024 compared to BD 892 thousand (USD 2.4 million) recorded in the same three-month period of last year.