Twenty-five publicly traded banks had...>

CHINA PRESS: Twenty-five publicly traded banks had a collective daily profit of

CNY4.3 billion in the first half of this year, after efforts to reduce the

issuance scale of negotiable certificates of deposit and improvements in asset

quality led to a rebound in profit, the China Securities Journal reported

Thursday. Statements from the 25 listed banks, whose stocks trade as A shares,

showed a net profit of CNY774.6 billion collectively in the first half of the

year, CNY36.3 billion more than the same period last year, a 4.92% increase. The

newspaper cited analysts as saying that banks' revenue would improve further in

the third quarter. Because deleveraging in the financial sector is a continuous

process, several managers of listed banks told the newspaper they expected money

market rates in the second half to be high and are unlikely to come down,

putting some pressure on profit growth. (China Securities Journal)