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

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Mizuho lifts annual guidance after bumper Q2 as rate hikes boost margins - Channel News Asia

Quick Summary:

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.