Bank of China (BOC), one of the country's largest commercial banks, said after-tax profit rose 31.82 percent in the first nine moths of this year over the same period last year.

The lender's net profit hit 59.94 billion yuan (US$8.78 billion) in the first three quarters under the international accounting rule. Earning per share was 0.24 yuan, representing an increase of 0.06 yuan.

BOC attributed the profit growth to rising interest income and commission fee during the period.

During January to September period, the bank's net interest income stood at 122.25 billion yuan, up 10.56 percent over the same period last year.

Its non-interest income increased 82.2 percent to hit 55.26 billion yuan.

The lender said it held 6.2 billion of debt issued by Fennie Mae and Freddie Mac as of Sept. 30, and 3.75 billion of mortgage-backed securities guaranteed by the two US real estate companies.

By September, BOC's asset topped 6.59 trillion yuan, up 10.04 percent over the end of last year.

(Xinhua News Agency October 30, 2008)