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Press releases

Press releases

February 27, 2023

SICO Announces the execution of the Sale Purchase Agreement for the Sale of Novotel Al Dana Resort in Bahrain

SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank (licensed as a wholesale bank by the CBB), announces the completion of a key milestone of its advisory to Al Jazeera Tourism Company (AJTC) on the execution of a sale and purchase agreement for 100% of Novotel Al Dana Resort in Bahrain to Gulf Hotels Group.

February 23, 2023

BLFC appoints SICO as an advisor for the potential M&A deal

Bahrain Family Leisure Company B.S.C (BFLC) and DGC Hospitality & Partners, the food and beverage investment arm of Dividend Gate Capital (DGC) have signed an MOU in October 2022 for a potential M&A transaction between the two companies. SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), has been appointed as advisor to BFLC on the M&A deal. Grant Thornton has been appointed as the advisor to DGC Hospitality. The two leading players in Bahrain’s food & beverage (F&B) and hospitality sector have signed an MOU to explore the possibility of a potential consolidation between the companies, which would result in a powerful market player with improved efficiencies and an increased market share.

February 15, 2023

SICO Maintains First Place Ranking 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 has maintained its position as the Number One Broker on the Bahrain Bourse (BHB) for the 24th consecutive year, with a market share of 50.89%.

January 10, 2023

SICO Wins MENA’s Best Sukuk Manager and Bahrain’s Asset Manager and Broker of the Year 2022

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has been recognized for the exemplary performance of its asset management and brokerage teams by the Global Investor Group MENA Awards 2022. SICO was named MENA ’s Best Sukuk Manager, as well as Bahrain’s Asset Manager and Broker of the Year.

November 22, 2022

SICO Publishes Its Second Annual Investor Returns Requirements in the GCC Report, Mapping Investor Expectations and Regional Outlook

SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, published its second annual investor return assessment survey, offering an inside look into the economic and return expectations of investors across the GCC.

November 20, 2022

SICO ‘s Top-20 Portfolio Outperforms its GCC Benchmark by 67% generating returns of 152% in five years

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 SICO Top-20, its equally weighted diversified GCC Equities portfolio, has generated a cumulative return of 152% since its launch in November 2017.

November 13, 2022

SICO Reports BD 2.8 million (USD 7.5 million) Net Profit Attributable to Shareholders in the Nine Months of 2022

On a quarterly basis, SICO recorded a consolidated net profit attributable to shareholders amounting to BD 336 thousand (USD 891 thousand) in the third quarter of 2022 compared to BD 871 thousand (USD 2.3 million) recorded in the same quarter last year, a 61% year-on-year decline. A consistently turbulent global financial market – where for the third consecutive quarter equities and bonds continued to slide and registered historical negative performance – had negatively impacted investment income during the quarter. Earnings per share (EPS) were 0.80 Bahraini fils in the third quarter of the year compared to 2.07 Bahraini fils in the third quarter of 2021. SICO reported a total comprehensive income of BD 183 thousand (USD 485 thousand) for third quarter 2022 compared a total comprehensive income of BD 816 thousand (USD 2.16 million) booked in the same quarter last year, representing a 78% decline.

October 23, 2022

SICO Completes 100% Acquisition of SICO 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 acquired the remaining 27.29% stake held by Bank Muscat in SICO Capital, a Saudi based full-fledged capital markets services provider.

October 10, 2022

SICO shares Insights into Oman - Economic Developments in 2022

SICO shared insights into Oman’s current economic climate in a report analyzing progress in achieving targets set forth in Oman’s tenth five-year fiscal and economic plan covering 2021- 2025, including debt management, fiscal reforms, and attracting FDI.

January 20, 2020

SICO's Bahrain Liquidity Fund Ends 2019 with Boost to Liquidity and Performance on Bahrain Bourse

The Fund was established in 2016 with the aim of improving the Bahrain Bourse's average daily trading volume.

January 19, 2020

SICO Sponsors Simulation Training Program for University Students at BIBF

The five-day simulation program is conducted by the Bahrain Institute of Banking and Finance (BIBF) for 12 students from the University of Bahrain and Bahrain Polytechnic.

January 12, 2020

4 days left for submissions of acceptances for the NBB offer to acquire BISB

The voluntary acquisition of Bahrain Islamic Bank (BISB) by National Bank of Bahrain (NBB) will close this week on January 15, 2020.

January 4, 2020

National Bank of Bahrain offer to acquire Bahrain Islamic Bank receives the required minimum threshold of BISB shareholders acceptances and is now unconditional as to acceptances

An official announcement has been made that the National bank of Bahrain (NBB) offer to acquire Bahrain Islamic Bank (BISB) is now unconditional as to acceptances after 47.64% of Bahrain Islamic Bank shareholders have accepted the offer. Therefore, the condition of 70% ownership by NBB of the issued share capital of BISB has been met as confirmed by SICO the Issue Execution Advisor, Receiving Agent and Allotment Agent.

December 17, 2019

SICO Named Issue Execution Advisor, Receiving Agent, and Allotment Agent in National Bank of Bahrain Acquisition of Bahrain Islamic Bank

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 been recently appointed as issue execution advisor, receiving agent, and allotment agent in the proposed voluntary acquisition of Bahrain Islamic Bank(BISB) by National Bank of Bahrain (NBB). It is set to be one of Bahrain’s largest transactions to date and comes amid a raft of mergers and acquisitions throughout the banking sector in the GCC as banks look to cost savings, synergies, and efficiencies.

November 24, 2019

SICO Appoints Naser Obaid as New CEO for Subsidiary “SICO Funds Services Company BSC (c)”

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today the appointment of Naser Obaid as CEO of its wholly owned Bahrain-based subsidiary,“SICO Funds Services Company BSC (c) “(SFS). The appointment is part of SICO’s efforts to enhance its management team and bring industry veterans into the fold to help the company see out its growth plans. “We’re delighted to have someone with Naser’s capabilities and expertise join our team at SFS,” said Najla Al-Shirawi, CEO at SICO and Chairperson of SFS. “We are confident that his track record in leading trust and fund service providers, combined with his extensive experience in structured products and regional regulations will prove invaluable to transforming the company’s operations. We look forward to seeing our custody and other funds and portfolio services armthrive under his leadership.”

November 3, 2019

Saudi Capital Markets Authority Gives SICO Regulatory Approval to Offer Asset Management Services in the Kingdom

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 its Saudi subsidiary, SICO Financial Saudi Company (under formation) has received a license from the Saudi Capital Markets Authority (CMA) to manage private non-real-estate investment funds and sophisticated investor portfolios in the Kingdom of Saudi Arabia.

October 20, 2019

SICO Sponsors the 44th Annual ICA Conference

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), is a lead sponsor of the annual ICA Conference held this year in Bahrain on 24-25 October under the patronage of His Royal Highness Prince Salman bin Hamad al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister of Bahrain.

October 13, 2019

SICO Hosts Workshop in Collaboration with Bahraini CFA Society

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB) organized a workshop for local media entities, in collaboration with the Bahraini CFA Society, on the analysis of financial statements and the impact of pressing issues in capital markets on company performance. The workshop was delivered by Mahmoud Nawar, president of the Bahraini CFA Society, on Saturday October 13th at the Capital Club in Bahrain.

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.