The Bank of Yokohama said Thursday its group net profits fell 53.3 percent in the first half ending Sept. 30, mainly due to hefty loan-loss charges and appraisal losses on its stockholdings.

In the six-month period, the Bank of Yokohama posted group net profits of 6.19 billion yen, sharply down from 13.26 billion yen a year ago.

Group pretax profits also shrank 60.1 yen percent to 9.47 billion yen, less than half the 23.79 billion yen in profits a year earlier. Operating revenue came to 160.02 billion yen, down 7.9 percent.