SICO, licensed as a conventional wholesale bank by the Central Bank of Bahrain (CBB), announced yesterday its consolidated results for the second quarter and six months ended June 30, 2026.
For the quarter, SICO’s consolidated net profit attributable to shareholders grew 48 per cent year-on-year, to record BD2.2 million ($6m) in the second quarter of 2026 compared to BD1.5m ($4m) recorded in the same three-month period of last year.
This growth was primarily driven by higher net investment income, supported by a recovery in market valuations. Earnings per share (EPS) reached 5.51 fils for the quarter, compared to 3.73 fils in the corresponding period of 2025.
Total comprehensive income attributable to shareholders rose 36 per cent to BD2.3m ($6.1m), up from BD1.7m ($4.5m) reported in the second quarter of 2025.
Total operating income for the second quarter of 2026 increased 17 per cent year-on-year to BD6.7m ($17.8m), compared to BD5.7m ($15.2m) achieved in the same period of the previous year.
For the first six months of 2026, SICO reported a consolidated net profit attributable to shareholders of BD2.8m ($7.5m), a 3pc decline from BD2.9m ($7.7m) recorded in the first half of 2025.
This variance was primarily driven by lower net fee income for the period. Earnings per share (EPS) for the first half of 2026 stood at 6.91 fils, compared to 7.15 fils in the corresponding period of 2025. Total comprehensive income attributable to shareholders amounted to BD2.3m ($6.1m), down 25pc from BD3.1m ($8.1m) reported in the first half of 2025, primarily reflecting movements in the investments fair value reserve for the period.
Total equity attributable to shareholders stood at BD75.2m ($199.4m) as at June 30, 2026, a 1pc decrease from BD76.1m ($201.8m) as at December 31, 2025, reflecting the BD3.2m ($8.5m) dividend for 2025 paid to shareholders during the second quarter of the year.
Total assets grew 1pc over the same period, closing at BD601.9m ($1.6bn) against BD595.4m ($1.6bn) at December 31, 2025.
SICO’s net investment income for the first half of 2026 increased 19pc to BD2.5m ($6.7m) from BD2.1m ($5.6m) recorded in the corresponding period of 2025.
Net fee income for the six-month period stood at BD5m ($13.2m), reflecting a 10pc decline from BD5.5m ($14.7m) reported in the first half of 2025.
Brokerage and other income rose 5pc during the period, reaching BD1.63m ($4.3m) compared to BD1.55m ($4.1m) in the same period last year.
On a gross basis (including leverage) SICO’s assets under management (AUMs) rose by 9pc to BD3.3bn ($8.9bn) in the first half of the year compared to BD3.1bn ($8.2bn) at year-end 2025.
The growth in AUMs was driven by an expanding client base, additional inflows from existing clients across asset classes, and the continued strong performance of SICO’s funds and portfolios under management.
Commenting on SICO’s performance for the second quarter of 2026, SICO chairman Abdulla Kamal said: “The group’s performance during the quarter reflects the strength and diversity of our businesses and our ability to navigate market conditions with foresight and a disciplined approach. Revenues recovered strongly compared to the first quarter of the year, while we continued to provide our clients with compelling investment opportunities and maintained rigorous risk management amid volatile market conditions. SICO also maintains a highly liquid balance sheet, sound asset quality, and a strong capital base that provides the group with strategic flexibility. The board continues to support the Group’s strategy to drive growth and deliver sustainable value to shareholders.”
Mr Kamal
SICO Group chief executive officer Najla Al Shirawi added: “The positive results and continued growth in our assets under management reflect our clients’ confidence in SICO and the strength of our investment capabilities in a challenging operating environment. Assets under management reached $8.9bn by the end of the second quarter, supported by strong net inflows during the first half of the year, primarily into our fixed income and equities strategies. During the second quarter, SICO Capital launched the SICO GCC Dividends Fund in the Saudi Arabia, further strengthening its position in the Saudi market.
“Our investment banking business secured new mandates while continuing to progress a number of existing mandates that are expected to be completed this year. SICO also maintained its position as the number one broker on Bahrain Bourse by total traded value during the first half of the year, with a 53pc market share.”
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