Manama, Bahrain - 8   February 2016

Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced today that it had retained its status as the leading broker on the Bahrain Bourse (BHB) for the 17th consecutive year.

During 2015, SICO handled 4,651 transactions on the BHB involving 269.7 million shares with a total value of BD 71.2 million, constituting a leading market share of 32.4 per cent. Through its focus on serving active institutional investors with large trading books, SICO continued to be the preferred broker for large trades, and executed most of the major deals on the Bourse during the year. This included managing the purchase of 25.6 million ordinary shares of Takaful International Company in two tranches, equivalent to 41 per cent of the company's outstanding shares.

Commenting on SICO's brokerage achievements, Najla M. Al Shirawi, Securities & Investment Company's CEO, said: "In our 20th anniversary year, we are delighted to have maintained our leading position on the Bahrain Bourse. As an increasing number of local, regional and foreign investors seek to access Gulf stock exchanges; SICO is ideally equipped with the right team, skills and knowledge to advise clients on investment opportunities in such challenging market conditions, with diligent and efficient execution. SICO continues to offer investors access to listed investment opportunities throughout the GCC, where we have also undertaken some of the largest trades in regional markets."

SICO's brokerage product lines comprise direct trading services offered out of Bahrain and Abu Dhabi (through its subsidiary - SICO UAE); pan-GCC trading accounts and other select MENA and international markets; and agency services covering GCC markets. Brokerage also provides value-added advisory services to clients, supported by SICO's in-depth market, sector and company research and analysis capabilities.

Agency Brokerage services provided by SICO enable clients such as regional and international fund managers, institutions and ultra-high net-worth individuals, to execute trades on different MENA stock exchanges, including access to the fixed income market. This one-stop-shop service, provided by a dedicated team, offers competitive commissions with no mark-up of official market rates. Having established a significant share of overall GCC market trades, SICO is remains firmly placed among the leading brokers in the region.

Fadhel Makhlooq, Head of Brokerage at SICO, said: "Our brokerage business showed great resilience during the year, posting another positive performance and continuing to contribute to the Bank's bottom line. Brokerage increased its client base and expanded the provision of value-added advisory services to clients, including broad and customised research. This was achieved despite the drop in trading values across the region, which declined by 32 per cent from 2014 levels."

-Ends- 

Securities & Investment Company (SICO)
Headquartered in the Kingdom of Bahrain, and with a growing regional presence and international footprint, Securities & Investment Company (SICO) is one of the premier wholesale banks in the GCC region. SICO provides a select range of investment banking solutions - brokerage, market making, treasury, asset management, corporate finance, and custody and fund administration - which are underpinned by an independent, value-added research capability.

Established in 1995, and listed on the Bahrain Bourse in 2003 as a closed company, SICO operates under a conventional wholesale banking licence from the Central Bank of Bahrain. The Bank has two wholly-owned subsidiaries: SICO Fund Services Company (SFS) - a specialised regional custody house; and SICO UAE - an Abu Dhabi-based brokerage firm licensed by the Emirates Securities & Commodities Agency.

Press Release 2016