Manama, Kingdom of Bahrain – 13 August 2017: Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today its financial results for the first six months of 2017 and the second quarter of the year.
SICO reported a significant growth in net profit for the first half of 2017, which increased to BD 2.09 million compared with a restated net loss of BD 8 thousand for the first half of 2016. Total operating income was BD 5.34 million, an increase of 85 per cent over the corresponding period in the previous year of BD 2.88 million; while total expenses were BD 3.25 million versus BD 2.89 million in 2016. Earnings per share were Bahraini fils 5.06 compared with a negative 0.02 fils for the first six months of 2016. The 2016 figures were restated consequent to the early adoption of IFRS-9 by the Bank.
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