MANAMA: SICO has retained its status as the leading broker on the Bahrain Bourse (BHB) for the 22nd consecutive year.
The regional asset manager, broker and investment bank said in a statement yesterday that its market share in terms of traded value on the BHB last year was 56 per cent, after it gained an additional 15pc during 2020.
This amounted to 18,827 transactions handled involving 1.318 billion shares, with a total value of BD240 million.
SICO remained the broker of choice for large trades and executed the majority of major deals on the BHB during the year owing to its focus on serving active investors with large trading books.
“We are delighted to have maintained our leading position on the BHB, successfully delivering strong results and increasing our market share, in spite of a challenging external environment,” said chief capital markets officer Fadhel Makhlooq.
“SICO’s skilled team advises clients to navigate challenging market conditions and offers them access to investment opportunities across the GCC region complemented by an in-house research team which continues to expand coverage of listed companies.”
The bank’s brokerage division provides clients in Bahrain, Abu Dhabi and soon to include Saudi, trading in equities, bonds and sukuks across the GCC and Mena; margin trading facilities for equities; and repurchase agreements for fixed income.
SICO said the service offering of its Fixed Income Trading Desk goes beyond regional markets.
“Our brokerage business demonstrated outstanding resilience during the year, posting positive results and contributing to the bottom line. The division increased its client base and continued to offer value-added advisory services to its clients, including broad and customised research products,” commented head of brokerage Mariam Isa.
The SICO LIVE online trading platform offers clients seamless access across key markets in the GCC and select Mena markets from a single account.
In 2020, the bank saw an increase in value of client trades of more than 600pc. The year also saw SICO launch its international trading platform, SICO LIVE GLOBAL, which allows clients to trade and invest in a diverse array of asset classes across international markets.
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