BOC gains 18.83% on Q3 net profit

Bank of China (BOC) announced Thursday its July-September net profit, which would be distributed to shareholders of the listed company, gained 18.83 percent to 21.1 billion yuan compared with the same period a year ago.

The bank's net interest income in the third quarter rose 7.93 percent from the second quarter to 40.9 billion yuan, with a total net interest income of 115.6 billion yuan during first three quarters, according to the quarterly report posted Oct. 29.

The report also suggested that the January- September commission charges increased 8.39 percent to 34.5 billion yuan, compared with 31.8 billion yuan in the same period a year earlier.

Due to the government's 4 trillion yuan stimulus package to cope with financial crisis, the bank's customer loans rose to 4.7 trillion yuan at the end of September, surging 42.63 percent compared with 3.3 trillion yuan at the end of last year.

BOC also pointed out that by the end of the third quarter, non-performing loans dropped 12.1 billion yuan to 75.3 billion yuan from the end of last year, with the delinquency rate dipping 0.15 percent at 1.60 percent.

At the time the report was released, total assets of the bank increased 19.9 percent to 8.34 trillion yuan, with total liabilities worth 7.82 trillion yuan, up 20.99 percent from the end of last year.

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