SICO announces first nine months and third quarter of 2016

Manama, Kingdom of Bahrain – 8 November 2016:  Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today its financial results for the first nine months and third quarter of 2016.

Operating income for the nine-month period ended 30 September 2016 totalled  BD 5.0 million versus BD 6.8 million for the same period last year.  SICO reported a net loss of BD 63 thousand after provisioning of BD 1.1 million against impairments of available-for-sale investments for the first nine months of 2016 , compared with a net profit of BD 2.3 million for the corresponding period in 2015. The decrease of 103 % reflects the extremely volatile economic and market conditions during this period compared with the previous year. Basic earnings per share were a negative Bahraini 0.15 fils against a positive 5.36 fils for the first nine months of 2015. 

The full press release in English and Arabic can be downloaded here .

The advertisements in English & Arabic can be downloaded here.

The Interin Financial Statement can be downloaded here