SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), announced today that it was named Best Investment Bank in Bahrain at the 2021 Euromoney Awards for Excellence for the third consecutive year.

Commenting on the award, SICO Chief Executive Najla Al Shirawi stated: “We are proud to receive this recognition by Euromoney for the third year running, which attests to the SICO team’s unwavering dedication and hard work, positioning us as Bahrain’s gateway to capital markets. Despite continued market challenges; we have successfully managed to navigate the financial climate and continued to deliver the standard of services our clients have grown to expect from us.”

SICO has continued to work to expand its reach across the region during 2020, achieving a number of milestones despite a volatile year for global equity and debt capital markets. Among its achievements were the acquisition of a majority stake in Bank Muscat’s Saudi-based subsidiary, Muscat Capital, by way of a share swap, in March 2021. The share swap, valued at BD 5.5 million, brought SICO’s ownership to 72.7% of the new entity, renamed SICO Capital, while Bank Muscat now owns a 9% stake in SICO.

 “SICO, under the leadership of chief executive Najla Al Shirawi, took part in the deals that mattered last year,” said Louise Bowman, Editor, Euromoney magazine. “It was hired by Kuwait Finance House in its effort to buy Ahli United Bank (with COVID-19 forcing both parties to shelve the deal) in addition to being hired to help the sovereign wealth fund of Bahrain, Mumtalakat Holding, to explore the merger of local firms Delmon Poultry and General Poultry.”

SICO has maintained its position as the investment house of choice in the Bahraini market for more than two decades for equity and debt capital market transactions, M&A deals, and advisory services. Earlier this year, it was named Best Investment Bank by the Global Finance World’s Best Investment Banks 2021 Awards. The bank boasts a team of highly experienced professionals and offers a comprehensive range of tailored financial services. The Euromoney Best Investment Bank award recognizes industry-leading firms that demonstrate an ability to deliver for clients across investment banking products and sectors, including financing, advisory and markets, while demonstrating strong financial performance and risk management.

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About SICO

SICO is a leading regional asset manager, broker, and investment bank, with USD 3 bn in assets under management (AUM). Today SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees three wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Financial Brokerage, a specialised regional custody house, SICO Fund Services Company (SFS), and a Saudi-based asset management provider, SICO Capital. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 100 exceptional employees.

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