The Business Times
business-time-50

Japan's Sumitomo Mitsui Financial posts 24.2% jump in Q1 net profit

google-preferred-sourceAdd BT as a preferred source
Published Fri, Jul 29, 2022 · 03:04 PM
    • Sumitomo Mitsui Financial Group, Japan’s second-largest bank, reported on Friday (Jul 29) a 24.2 per cent increase in first-quarter net profit as improved economic conditions helped boost its main lending business.
    • Sumitomo Mitsui Financial Group, Japan’s second-largest bank, reported on Friday (Jul 29) a 24.2 per cent increase in first-quarter net profit as improved economic conditions helped boost its main lending business. photo: reuters

    SUMITOMO Mitsui Financial Group, Japan’s second-largest bank, reported on Friday (Jul 29) a 24.2 per cent increase in first-quarter net profit as improved economic conditions helped boost its main lending business.

    Sumitomo Mitsui posted a profit of 252.4 billion yen (S$2.62 billion) in the April-June period versus 203.2 billion yen. That compared with an average profit estimate of 156.33 billion yen from two analysts surveyed by Refinitiv.

    The banking group maintained its full-year net profit forecast at 730 billion yen, compared to the average of 742.33 billion yen forecast by 12 analysts. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    JapanSumitomo Mitsui

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    While the Min Aung Hlaing government controls major cities and the central apparatus of the state, it reflects stability, not a stalemate.

    Can capital trust Myanmar again?

    After vacating her roles on Oct 1, Lily Ler will become group CFO of the trust’s sponsor, Mapletree Investments.

    Lily Ler to step down as CEO of Mapletree Industrial Trust manager

    The author (left) with his father, Dr Cheng Heng Kock, who was the first medical chairman of KK Women’s and Children’s Hospital. *(see amendment note)

    What Dad taught me about love

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More