Japan Big Banks' Combined 1st-Half Profits Down 10 Pct

Economy

Tokyo, Nov. 14 (Jiji Press)--Japan's five major banking groups saw their combined net profits for April-September fall 10.8 pct from a year earlier, the first drop for the period in three years, their latest earnings reports have shown.

Their profits for the first half of fiscal 2019 totaled 1,512.5 billion yen. Four groups suffered net profit falls in the ultralow interest rate environment.

Of them, Mizuho Financial Group Inc. <8411> on Thursday reported a consolidated net profit of 287,668 million yen, down 19.9 pct.

Mitsubishi UFJ Financial Group Inc. <8306> and Sumitomo Mitsui Financial Group Inc. <8316> said the previous day that their net profits dropped 6.3 pct to 609,958 million yen and 8.6 pct to 431,955 million yen, respectively.

Resona Holdings Inc. <8308> booked a profit of 76,977 million yen, down 37 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press