BEIJING - The Bank of China (BOC), the country's third-largest lender, said Monday its Shenzhen branch had completed an international settlement volume of $102.57 billion by the end of October this year, up 37.1 percent year-on-year.

The Shenzhen branch has become BOC's first city branch to complete an annual international settlement volume of more than $100 billion, BOC said in a statement posted on its website.

Meanwhile, the branch was also the first financial institution in Shenzhen, a city adjacent to Hong Kong, to see international settlements exceed $100 billion.

During the first ten months of the year, the branch's cross-border trade settlement in yuan hit 63.66 billion yuan ($10.03 billion), nearly tripling last year's total volume, the statement said.