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

 

Last year, Sico handled 4,651 transactions on the BHB involving 269.7 million shares with a total value of BD71.2 million ($187.5 million), constituting a leading market share of 32.4 per cent, said a statement.

 

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, it said.

 

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.

 

Najla M Al Shirawi, chief executive officer, 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.

 

The 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. 

 

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 22 per cent from 2014 levels.” - TradeArabia News Service