SICO’s net profit for 2014 increases by 11.3% to BD 5.4 million

Manama, Bahrain –16 February 2015: Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today its financial results for the fourth quarter and full fiscal year ending 31 December 2014.

Net consolidated profit for fiscal year 2014 increased by 11.3% to BD 5.4 million, compared with BD 4.9 million in 2013; while operating income grew by 16.4% to BD 12.4 million from BD 10.6 million the previous year. Basic earnings per share rose to Bahraini fils 12.68 from 11.41 fils in 2013.

Brokerage and other income for the full year increased by 110% to BD 2.6 million compared with BD 1.2 million in 2013. This illustrates SICO’s success in achieving the desired sustainable growth in brokerage activities, which cover most of the Arab capital markets; as well as its ability to provide clients with corporate finance advisory services. Net fee and commission income grew by 10.7% to BD 4.4 million compared with BD 4 million in 2013, reflecting the sustainable growth in assets under management resulting from receiving new client mandates during the year. 

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

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2014 Financials