Japan's SMFG lifts profit forecasts after Q2 net income rises 27%

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TOKYO : Sumitomo Mitsui Financial Group, Japan's second-largest lender by assets, raised its annual net profit forecast on Thursday to a record 1.16 trillion yen ($7.44 billion) after a 27 per cent jump in second-quarter profit helped in part by higher interest rates.

It raised its full year guidance from 1.06 trillion yen.

SMFG said group net profit came to 354 billion yen ($2.27 billion) in July-September, compared with 278 billion yen in the same quarter a year earlier.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Tokyo Year Group Mediacorp Mitsui Raised Sumitomo Profit Billion Billion) Trillion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 16:41:41 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 156 words

Reading Time: 1 minutes read

Sentences: 7 lines

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News ID: 23582828

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