MANAMA, April 23 (KUNA) -- The Bank of Bahrain and Kuwait (BBK) achieved 13.

1 million Bahraini Dinars (BD) in net profits in the first quarter this year, nine percent more than the correspondent period in 2012.

Last year's first quarter net profits were BD 12 million, or 14 fils per share, a BBK statement said Tuesday.

Every BD equals USD 2.652.

BBK Chairman of Board of Directors Murad Ali Murad attributed increase in profits to growth in net interest income, foreign exchange and investment income.

He said BBK achieved growth in net interest income amounting to 12.2 percent, or BD 17 million.

Murad said that well-crafted investment strategies resulted in boosting foreign exchange and investment income by 92.6 percent to reach BD six million in March 2013, compared with BD 3.1 million last year.

He said operational spending rose by 2.7 percent to BD 12.4 million.