News

Interview with CNBC Arabia :2012 outlook

sico — Wed, 1 Feb 2012 13:11:33 +0300

SICO appoints new Chairman of the Board

sico — Wed, 21 Dec 2011 10:08:52 +0300

Manama, Bahrain, 20 December 2011, Bahrain based Securities & Investment Company announced today, after its board meeting of November 13th, the appointment of Shaikh Abdulla bin Khalifa Al-Khalifa, as the new chairman of the bank’s board of directors.

Shaikh Abdulla represents the Social Insurance Organization, and has been a board member since November 2011. He replaces SICO’s former chairman, Shaikh Mohammed bin Isa Al Khalifa and who retired from the board in September 2011 .

Shaikh Abdulla is the Assistant Director – Investment Directorate of the Social Insurance Organisation (SIO).Prior to joining SIO in 2006, he was the Head of Wealth Management at Standard Chartered Bank for Bahrain. He started his career in 2001 at Arab Banking Corporation in Bahrain, where he rose to the position of Senior Relationship Manager.

He is Chairman of Seef Properties; and a Board Member of BBK, BFC Holdings Limited, Bahrain International Golf Course, and Naseej.

Shaikh Abdulla holds a BSc degree in Business Administration from the George Washington University, Washington DC, USA. He has also completed various training courses.

The Board of Directors would like to warmly welcome Shaikh Abdulla whose diverse knowledge and experience should greatly benefit SICO.

Securities & Investment Company is a wholesale bank offering a selective range of investment banking services, including asset management, brokerage, corporate finance and market-making, on a regional basis and with a particular emphasis on Bahrain.Through its wholly owned subsidiary, SICO Fund Services Company (SFS), SICO also provides custody and fund administration services.

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

SICO ANNOUNCES THIRD QUARTER RESULTS FOR 2011

sico — Mon, 14 Nov 2011 12:27:36 +0300

Manama, Kingdom of Bahrain, 13 November 2011: Bahrain-based Securities & Investment Company (SICO) announced today its financial results for the third quarter of 2011 and the first nine months of the year.

Operating income for the third quarter was BD 93 thousand compared with BD 1.71 million for the corresponding period in 2010, while net earnings were negative BD 863 thousand (2010: positive BD 743 thousand), with basic earnings per share of negative 2.03 Bahraini fils (2010:positive 1.75 fils). For the first nine months, operating income was BD 2.8 million (2010: BD 5.2 million), with negative net earnings of BD 364 thousand (2010: positive BD 2.3 million) and basic earnings per share of negative 0.85 Bahraini fils (2010: positive 5.36 fils). As at 30 September 2011, total balance sheet footings increased to BD 96.9 million from BD 81.2 million at the end of 2010. At the end of the third quarter of 2011, Assets under Management remained healthy at BD 181.152 million, while Assets under Custody with SICO’s wholly-owned subsidiary SICO Funds Services Company were BD 913.200 million.

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

The Interim financial statement can be downloaded here

The press advertisement in English can be downloaded here

The press advertisement in Arabic can be downloaded here

CHAIRMAN OF SICO STEPS DOWN AFTER 12 YEARS’ TENURE

sico — Wed, 5 Oct 2011 09:38:56 +0300

Manama, Kingdom of Bahrain, 4 October 2011: Bahrain-based Securities & Investment Company (SICO) announced today the retirement of Sheikh Mohammed bin Isa Al Khalifa from the Bank’s Board of Directors. He has been a Director since 1996, and Chairman of the Board from 1999. Sheikh Mohammed represented Social Insurance Organisation (SIO) on SICO’s board and with his new assignment as Batelco Group CEO, he will be replaced by another member of the SIO.

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

SECURITIES & INVESTMENT COMPANY ANNOUNCES SECOND QUARTER PROFITS. Net profit of BD 1.127 million for second quarter 2011

sico — Sun, 14 Aug 2011 09:18:58 +0300

Manama, Bahrain, 13 August 2011: Bahrain-based Securities & Investment Company (SICO) announced today a net profit of BD 1.127 million for the second quarter of 2011, compared to a loss of BD 627 thousand for the first quarter of 2011. Net profit for the corresponding period of 2010 was BD 252 thousand. The bank also announced that its net profit for the first six months of 2011 was BD499 thousand, compared to BD 1.532 million for the first half of 2010.

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

Second Quarter Financial Result

SICO: Bahrain market’s performance does not reflect the Kingdom’s economic performance

sico — Sun, 7 Aug 2011 10:03:00 +0300

Manama 7 August 2011 – Securities & Investment Company (SICO) prepared a note on the performance of the Bahrain Bourse stating that Bahrain markets followed the broader GCC equity markets’ negatively biased volatile trend, as regional political developments, the US and Euro-zone debt concerns outweighed GCC companies’ strong half-yearly results. Bahrain’s benchmark index is down 10% during the year while S&P’s GCC index has lost 6.2% during the same period.

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

Bahrain Bourse Lists “SICO Kingdom Equity Fund”

sico — Tue, 26 Jul 2011 09:44:30 +0300

An agreement was signed between Bahrain Bourse (BHB) and SICO Funds Company IV, a subsidiary company owned by Securities & Investment Company on Monday, 25th of July 2011 to list “SICO Kingdom Equity Fund” on the bourse as of Tuesday, 26th of July 2011.

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

SICO lead manager for BisB BD 54 million rights issue

sico — Thu, 16 Jun 2011 15:50:25 +0300

SICO is acting as the lead manager for BisB BD 54 million on going rights issue which opened to subscribers on June 8^th, 2011 and is scheduled to close on June 22^nd

BisB Main Announcement in English

BisB Main Announcement in Arabic

Addendum to the Information Memorandum in English

Addendum to the Information Memorandum in Arabic

Securities & Investment Company granted a conventional wholesale banking license

sico — Thu, 26 May 2011 09:23:23 +0300

Manama, Bahrain – May 25^th, 2011: Bahrain-based Securities & Investment Company (SICO) announced today that it had been granted a conventional wholesale banking license from the Central Bank of Bahrain on May 24^th. SICO had previously an investment banking license and which had been granted in 1997.

The very robust requirements of the licensing regime, including a high capital base and strict adherence to regulations and governance, positions SICO well in its growth path, primarily by giving the firm additional flexibility in servicing its customers, while further giving it the ability to manage the balance sheet more optimally.

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

SICO announces first quarter results for 2011

sico — Sun, 15 May 2011 10:06:45 +0300

Manama, Kingdom of Bahrain – 11 May 2011 Bahrain–based Securities & Investment Company (SICO) announced today its first quarter results for 2011. The company reported a loss of BD 627 thousand for the period compared to a profit of BD1.28 million for the same period of 2010.

Operating income was down from BD2.239 million in the first quarter of 2010 to BD 459 thousand for the first three months of 2011.The loss per share was 1.5 fils on a year-to- date basis, against a profit of 3 fils per share for the same period of the previous year. The slowdown in revenues and operating profit reflects the effect of the political uncertainty in the MENA region and excessive volatility in regional equity and fixed income markets.

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

The Interm financial statement can be downloaded here

The press advertisment in English can be downloaded here

The press advertisment in Arabic can be downloaded here