The robust earnings mainly reflected a drop in bad-loan disposal costs and more profitable trading government bonds.
Sumitomo Mitsui Financial Group Inc. said its consolidated net profit jumped 75.2 percent in the year through March to ¥475.90 billion, while that of Resona Holdings Inc. rose 21.1 percent to ¥160.08 billion and that Sumitomo Mitsui Trust Holdings Inc. grew 30.8 percent to ¥130.79 billion.
Sumitomo Mitsui Financial and Resona are forecasting drops in net profit for the current fiscal year, while Mizuho and Sumitomo Mitsui Trust are projecting further gains.
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