China's listed banks see slower net profit growth in the first half year

China's listed banks reported slowdowns in net profit growth in the first half year, according to a report from the Institute of International Finance under the Bank of China.
China's listed banks reported 675.9 billion yuan (110.80 billion U.S. dollars) in net profits in the first half year, up 10.67 percent from the same period last year, but the growth rate was 2.86 percentage points lower year on year, the report said.
Of the 16 listed lenders, the top five pocketed 513.7 billion yuan in net profit in the first half year, up 9.32 percent from the same period last year, but the growth rate was 3.53 percentage points lower year on year, it said.
The net interest margin of the listed banks averaged to 2.50 percent in the first half year, down 1.91 percentage points from the same period last year.