Tokyo, Nov. 13 (Jiji Press)--Combined consolidated net profit at Japan's five major banking groups is projected to reach 7.06 trillion yen in fiscal 2026, surpassing the 7 trillion-yen mark for the first time, according to their earnings forecasts.

All five groups, including Mitsubishi UFJ Financial Group Inc., revised up their full-year earnings estimates, supported by higher lending rates following the Bank of Japan's gradual interest rate hikes.

If achieved, the projected figure would far exceed the previous record combined net profit of 5,835.1 billion yen in fiscal 2025, which ended last March.

For April-September, the five groups posted a combined consolidated net profit of 3,954.2 billion yen, up 22.4 pct from a year earlier.

Sumitomo Mitsui Financial Group Inc.'s net profit rose 7.5 pct, topping 1 trillion yen in the first fiscal half for the first time.

Signs of major Japanese banks (File photo)

[Copyright The Jiji Press, Ltd.]