Industrial Bank profits slow

Fujian-headquartered Industrial Bank Co, a major joint-stock commercial bank in the country, saw a further slide in profit growth in the first half, amid a cooling economy and interest rate reforms. In the first six months, the bank posted 26.5 percent growth in its net profits compared to the previous year.

This compares to 32.44 percent year-on-year in net profit growth during the first quarter, and 36.12 percent for 2012.