(Yicai Global) Aug. 31 -- Bank of China Ltd.'s [SHA:601988; HK:3988] net profit increased more than 10 percent in the first half on commercial banking business growth.

The company's revenue was USD37.07 billion (CNY248.37 billion) in the half, up 5.4 percent annually, financial results released yesterday show. Its net profit rose 11.5 percent to CNY103.69 billion. The bank's non-performing loan ratio stood at 1.38 percent at the end of June, down from 1.46 percent a year earlier and 0.08 percentage points from the end of last year.

Some 90 percent of Bank of China's total revenue came from its commercial banking business, including its private and corporate finance as well as capital businesses. Its commercial banking revenue rose 3.39 percent to CNY224.69 billion in the first six months of this year.

Despite an increase in the value of the bank's non-performing loans (NPLs), its NPL ratio fell by dint of its increased efforts to clear bad assets. The group's NPLs totaled CNY147.03 billion at the end of June, up CNY1.022 billion from the end of last year.