JAPAN'S SMFG POSTS RECORD ANNUAL PROFIT AND FORECASTS BETTER YEAR AHEAD DESPITE TARIFF HITS
- NEWS Desk Global
- 4 hours ago
- 1 min read
Japan's second-largest banking group Sumitomo Mitsui Financial Group hit a record 1.18 trillion yen ($8.1 billion) profit for the financial year ended March 2025 and sees more growth ahead even accounting for the hit to its business from tariff uncertainty.
SMFG generated net income of 42 billion yen in the January-March quarter compared to 170 billion yen for the same period a year before - a 75% slump - but forecast a record 1.3 trillion yen in net profit for the coming financial year.
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