Japan’s SMFG lifts profit forecasts after Q2 net income rises 27%
4:41 am Thursday, November 14th, 2024
TOKYO (Reuters) – 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% jump in second-quarter profit helped in part by higher interest rates.
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.
It raised its full year guidance from 1.06 trillion yen.
($1 = 155.8100 yen)
(Reporting by Anton Bridge; Editing by Chang-Ran Kim)
