China’s Hua Xia Bank ,  partly owned by Deutsche Bank (DBKGn.DE), posted a 13.6 percent drop in first-half earnings, in line with analysts’ expectations, as net interest income fell.

Net profit ascribable to shareholders fell to 1.67 billion yuan ($244.5 million) in the first six months, the Beijing-based midsized lender said in a statement to the Shanghai Stock Exchange.

The bank, the first of China’s major listed banks to report interim earnings, said revenue fell 11.3 percent from a year earlier to 7.74 billion yuan.

The official China Securities Journal said the result was in line with analysts’ expectations of a drop of about 10 /cent in profit and revenue, although its lending growth tended to lag similarly sized Chinese banks during the country’s first-half lending boom.

Its capital adequacy ratio slipped to 10.36 /cent at the end of June from 11.40 /cent at the end of last year, as loans outstanding jumped 20 /cent during the half-year to 425.92 billion yuan.

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