Bahrain-based Securities & Investment Company (SICO) today announced its year end 2008 financial results.  Following the significant and unprecedented deterioration in global market conditions during the second half of the year, SICO reported a loss for the year of BD1.4 million.

Over the course of the year, SICO maintained prudent policies and employed robust risk management across its business lines and operations, closing the year with over 72 percent of the balance sheet in cash and deposits, no short-term borrowings and a very healthy equity position. SICO’s equity position was increased to BD 42.3 million at the end of June 2008, through a combination of bonus and rights issue. Shareholders’ equity as of end of December 2008 reached 49.9 million.

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

The Financial Statements can be downloaded here .