SICO yesterday announced its consolidated results for the third quarter and nine months ended September 30, 2025.
For the quarter, SICO’s consolidated net profit attributable to shareholders grew 6 per cent year-on-year to BD2.2 million ($5.7m) in the third quarter of 2025 compared to BD2m ($5.4m) recorded in the same three-month period of last year.
This increase is primarily due to the effective management of our investment book which enabled the bank to benefit from the improved performance of global markets.
Earnings per share (EPS) recorded 5.30 fils in the third quarter of the year versus 4.99 fils in the comparable quarter of 2024.
SICO reported total comprehensive income attributable to shareholders of BD2.3m for the third quarter of 2025, compared to a total comprehensive income of BD2.5m reported in the same quarter of last year, representing a decline of 9pc.
Total operating income for the third quarter of 2025 stood at BD6.1m compared to BD6.4m achieved in the same period of the previous year, reflecting a decrease of 4pc.
On a year-to-date basis, SICO recorded consolidated net profit attributable to shareholders for the nine months of 2025 amounting to BD5.1m ($13.5m), representing a slight 2pc decrease from the BD5.2m ($13.8m) recorded in the first nine months of 2024.
This decrease was primarily driven by lower brokerage activities in regional markets during the period.
EPS stood at 12.45 fils for the nine months of 2025 compared to 12.76 fils for the same period last year.
SICO reported total comprehensive income attributable to shareholders of BD5.4m for the nine months of 2025, as compared to a total comprehensive income of BD5.6m reported in the nine months of 2024, inching down 3pc.
There was an increase of 6pc to the total operating income, which grew to BD17.6m from BD16.6m in the same period last year.
Total equity attributed to shareholders increased by 3pc to BD76.1m as of September 30, 2025 compared to BD74m recorded at end-2024. Total assets increased by 38pc to BD568.4m as of September 30, 2025 compared to BD411.2m recorded at year-end 2024.
SICO’s net investment income stood at BD3.5m in the nine months of 2025, increasing by 34pc compared to BD2.6m for the same period last year.
Net fee income recorded BD8.5m in the first nine months of the year, a 7pc increase from BD8m achieved in the nine months of 2024.
Meanwhile, brokerage and other income came in at BD2.4m for the nine months of 2025, a 23pc decline from the BD3.1m recorded in the first nine months of 2024, due to lower overall regional market activity and reduced foreign exchange transactions.
On a gross basis (including leverage) SICO’s assets under management (AUMs) rose 10pc to BD3 billion in the first nine months of the year, compared to BD2.8bn at year-end 2024.
The growth in AUMs was driven by expansion in client base and the launch of new funds and products along with additional inflow from existing clients across asset classes.
Commenting on SICO’s third quarter performance, SICO chairman Abdulla Kamal said: “SICO’s strong performance in the third quarter reflects the effectiveness of our strategy in capturing growth opportunities and expanding our client base across the region. Our ongoing investments in digital transformation and in strengthening the capabilities of our subsidiaries in Saudi Arabia and the UAE are also supporting the execution of our future plans aimed at creating sustainable value for our clients and shareholders.”
SICO Group chief executive officer Najla Al Shirawi said: “Our nine-month results clearly reflect the successful execution of our strategy to expand non-cyclical revenue streams while strengthening our regional presence through our subsidiaries – SICO Capital in Saudi Arabia and SICO Invest in the UAE – as well as through our strategic partnerships. During the quarter, we continued to broaden our offering with innovative Sharia-compliant solutions in Bahrain and the wider Mena region, driving growth in assets under management. We also concluded a number of investment banking mandates which supported strong growth in fee-based income.
“Additionally, our decisive focus on investment and treasury activities, coupled with the efficient deployment of our liquidity through favorable interest rate environments and proactive asset allocation contributed significantly to the 34pc rise in net investment income.”
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