SICO has solidified its reputation as a market leader in Bahrain, notching milestones on several fronts.
In 2023, SICO’s brokerage division extended its dominance as the top broker on the Bahrain Bourse for the 25th consecutive year, registering a market share of 47.16%. It executed 12,510 secondary transactions through the year, for a total value of BD 191.9 million ($506.2 million), and captured the majority of the block trades in Bahrain.
SICO’s investment banking arm also witnessed significant growth, recording a 48% jump in revenue to $1.1 million in 2023. The investment bank advised on several high-profile transactions, including a $500 million bond for Bank of Bahrain and Kuwait and the $26.5 million sale of Novotel Bahrain Al Dana Resort to Gulf Hotels Group. SICO was a sell-side financial adviser.
The firm also focused on business development and transformation over the past year.
It continued to expand its product portfolio, launching innovative funds such as the Elzaad Sukuk Fund – in partnership with Wafra International Investment Company – and the SICO Kingdom Equity Fund, targeting Saudi Arabia's growth.
In