Mizuho lifts annual guidance after bumper Q2 as rate hikes boost margins

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TOKYO :Mizuho Financial Group reported a 62 per cent jump in second-quarter net profit and lifted its annual guidance on Thursday, fuelled by robust lending demand and higher margins following a July interest rate hike by the Bank of Japan.

"We have entered a new stage of growth investment and strengthening shareholder returns," CEO Masahiro Kihara told a media briefing.

For the July-September period, it reported a group net profit of 277 billion yen, up from 170 billion yen in the same quarter a year earlier.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Rate Japan Group Financial Interest Thursday Year Lending Profit Mizuho Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 14:56:24 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 329 words

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Sentences: 13 lines

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Copyright Owner: © Channel News Asia

News ID: 23581988

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