BE Magazine - August 2026

ISSUE 212 AUGUST 2026 the BANKING EXECUTIVE 63 FinTech and AI Chornicle Bahrain-based investment bank SICO has reported a 48% rise in sec- ond-quarter net profit attributable to shareholders which soared to BD2.2 million ($6 million) from BD1.5 mil- lion a year earlier helped by higher net investment income and a recov- ery in market valuations. Total operating income rose 17% to BD6.7 million in the second quarter, while earnings per share increased to 5.51 Bahraini fils from 3.73 fils. Total comprehensive income attrib- utable to shareholders rose 36% to BD2.3 million. On the first half performance, SICO said its net profit fell 3% to BD2.8 million, mainly due to lower net fee income. Earnings per share stood at 6.91 fils, compared with 7.15 fils in the first half of 2025. Net investment income for the first half rose 19% to BD2.5 million, while net fee income fell 10% to BD5 million. Brokerage and other in- come increased 5% to BD1.63 mil- lion. Assets under management rose 9% to BD3.3 billion at the end of June from BD3.1 billion at the end of 2025, driven by client growth, addi- tional inflows and investment per- formance. SICO said its assets under manage- ment stood at $8.9 billion at the end of the second quarter, with strong net inflows during the first half mainly into fixed-income strategies. The company said its SICO GCC Dividends Fund was launched in Saudi Arabia during the second quar- ter, while its investment banking business secured new mandates. SICO also said it remained the top broker on Bahrain Bourse by total traded value in the first half, with a 53% market share. Total assets stood at BD601.9 million at the end of June, up from BD595.4 million at the end of 2025, while eq- uity attributable to shareholders fell 1% to BD75.2 million following pay- ment of a BD3.2 million dividend for 2025 during the second quarter. Commenting on SICO’s performance for Q2, Abdulla Kamal, Chairman of the Board, said the Group’s perform- ance during the quarter reflects the strength and diversity of the bank's businesses and its ability to navigate market conditions with foresight and a disciplined approach. "Revenues recovered strongly com- pared to the first quarter of the year, while we continued to provide our clients with compelling investment opportunities and maintained rigor- ous risk management amid volatile market conditions. SICO also main- tains a highly liquid balance sheet, sound asset quality, and a strong cap- ital 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," he stated. Group CEO Najla Al Shirawi said: “The positive results and continued growth in our assets under manage- ment reflect our clients’ confidence in SICO and the strength of our in- vestment capabilities in a challeng- ing operating environment. Assets under management reached $8.9 bil- lion by the end of the second quarter, supported by strong net inflows dur- ing the first half of the year, primarily into our fixed income and equities strategies. "During the second quarter, SICO Capital launched the SICO GCC Div- idends Fund in the Kingdom of Saudi Arabia, further strengthening its po- sition in the Saudi market. Our in- vestment banking business secured new mandates while continuing to progress a number of existing man- dates that are expected to be com- pleted this year. SICO also maintained its position as the num- ber one broker on Bahrain Bourse by total traded value during the first half of the year, with a 53% market share," she added. SICO'S Q2 PROFIT JUMPS 48% ON HIGHER INVESTMENT INCOME