Mubasher: Alkhabeer Capital’s net income increased 6% in 2016, reaching SAR 71 million ($18.93 million) by 31 December 2016, according to a company press release on Monday.

Total operating income went up 16% to SAR 207 million ($187 million), as assets under management (AuM) reached SAR 4.4 billion ($1.17 billion) after rising 10% in 2016.

“Based on our solid achievements in 2016 and recent years by our high-calibre teams, we remain cautiously optimistic about the future prospects for Alkhabeer Capital,” the company’s executive director Ammar Shata stated in the press release.