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MAR 26, 2013 - Boston Herald

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Chinese banks post slower profit growth

HONG KONG — Two of China's biggest state-owned banks reported their slowest profit growth in years amid an economic downturn and interest rate reforms.Bank of China said Tuesday that profit grew 12 percent to 139.4 billion yuan ($22.4 billion). Agricultural Bank of China's earnings rose 19 percent to 145 billion yuan.They were the slowest growth rates for either bank since they went public. Bank of China listed in 2006 while Agricultural Bank of China's IPO was in 2010.

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