SICO reports BD 1 million net profit for the first quarter of 2013

Manama, Kingdom of Bahrain, 12 May 2013: Bahrain-based regional investment bank, Securities & Investment Company (SICO), announced today a net profit of BD 1.02 million for the first quarter of 2013, compared with BD 1.58 million for the corresponding period in 2012.

Brokerage and other income for the period increased by 37 per cent to BD 230 thousand from BD 168 thousand in the first quarter of 2012, reflecting the buoyant performance of regional equity markets at the beginning of the year. Net interest income net fee and commission income also grew – registering BD 315 thousand (Q1 2012: BD 309 thousand) and BD 564 thousand (Q1 2012: BD 540 thousand) respectively; while investment income declined to BD 1.13 million (Q1 2012: BD 1.77 million). As a result, operating income decreased slightly to BD 2.24 million compared with BD 2.79 million for the first quarter of the previous year; and earnings per share dropped to Bahraini fils 2.39 (Q1 2012: Bahraini fils 3.71).

The full press release in English & Arabic can be downloaded here

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The Interim Financial results can be downloaded here