5 Major Japanese Banks' Net Profits Fall in April-Dec.

Tokyo, Feb. 2 (Jiji Press)--The combined consolidated net profits of five major Japanese banking groups in April-December 2022 fell 21.3 pct from a year earlier to 1,921.8 billion yen.

Mitsubishi UFJ Financial Group Inc. <8306> logged a 67.9 pct plunge in net profit as appraisal losses related to the sale of U.S. unit MUFG Union Bank pushed down the profit by nearly 990 billion yen.

Resona Holdings Inc. <8308> reported a 2.2 pct profit decline.

Sumitomo Mitsui Financial Group Inc. <8316> saw its net profit rise 22.6 pct, aided by brisk funding demand in Japan and abroad.

Mizuho Financial Group Inc. <8411> reported a net profit rise of 13.5 pct. Sumitomo Mitsui Trust Holdings Inc.'s <8309> net profit rose 2.7 pct.

[Copyright The Jiji Press, Ltd.]