SMFG profits up 3.5% to $5.3b

An earnings per share of approximately $4 has been announced for the period.

Sumitomo Mitsui Financial Group (SMFG) saw its profits rise 3.5% to approximately $5.33b (JPY792.83b) in the nine months ending 31 December, its latest financial results showed.

Ordinary income rose 52.8% to $45b (JPY6.69t), with ordinary profit rising 15.9% to over $8.05b (JPY1.19t).

SMFG has announced a diluted earnings per share of $4 (JPY594.44) for the period.

Its main banking business, the Sumitomo Mitsui Banking Corporation (SMBC), reported a gross banking profit of over $9.05b (JPY1.34t) for the nine-month period. Net interest income came slightly lower than in 2022, at $5.5b (JPY817.59b).

Net fees and commission rose slightly to $2.4b (JPY369.92b).

Overall net income is over $3.7b (JPY554.87b), slightly lower than in 2022.