Japan lender SMFG reports 69% surge in H1 net profit

TOKYO: Sumitomo Mitsui Financial Group (SMFG), Japan's second-largest lender by assets, reported on Friday a 69 per cent jump in half-year net profit.

Net profit came in at 456 billion yen (US$3.99 billion) in the April to September period compared to 270 billion yen a year earlier, the bank said.

For the full year through March, SMFG raised its forecast for profit to 670 billion yen from an earlier estimate of 600 billion yen. That compared with the 673.85 billion yen average of 11 analyst estimates compiled by Refinitiv.