Securities and Investment Company (SICO) said its earnings dropped 31% for the first half of 2015.

SICO registered a net profit of BHD 3.5 million ($9.2 million) in H1-15 as compared to BHD 5.1 million ($13.4 million) in H1-14.

The Bahraini company’s earnings per share fell to 8.3 fils in the first half of 2015 from 11.8 fils in the same period of 2014.

SICO, a GCC wholesale bank, saw its earnings decreasing to BHD 2.1 million in in the second quarter from BHD 2.5 million in the same period last year.

“During this period, all GCC markets performed lower than the corresponding period in 2014, when the S&P Composite Index gained 10.8% compared with 6.4% for the first six months of 2015,” said the bank CEO Najla M. Al Shirawi.