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Sumitomo Mitsui Financial Group, Inc. (SMFG)

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  • Reuters

    Japan's SMFG, Mizuho post surge in first-half profit as credit costs ease

    TOKYO (Reuters) -Two of Japan's megabanks, Sumitomo Mitsui Financial Group Inc (SMFG) and Mizuho Financial Group Inc, on Friday reported a surge in first-half profit as the economy ravaged by the COVID-19 pandemic recovered and credit costs abated. SMFG, Japan's second-largest bank by assets, said net profit jumped 69% to 456 billion yen ($4 billion) in the April-September period. Mizuho, the No. 3 lender, said earnings rose 79% to 385.7 billion yen.