InfoAnda - Japan bank Sumitomo Mitsui sees profit nearly triple

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Japan bank Sumitomo Mitsui sees profit nearly triple AFP - Thursday, July 29 Send IM Story Print Japan bank Sumitomo Mitsui sees profit nearly triple Slideshow: Full Photo Coverage: Business & Economy TOKYO (AFP) - – Japanese megabank Sumitomo Mitsui Financial Group (SMFG) Wednesday posted a net profit of 212 billion yen for the quarter ended June, nearly triple the amount posted for the same period a year ago. The nation's third-largest bank by assets posted a net profit of 211.8 billion yen (2.4 billion dollars), compared with 72.7 billion yen a year ago as it saw bond trading gains and enjoyed lower credit costs. The result exceeded expectations for the entire first half and reached 60 percent of the estimated annual profit. However, SMFG cautiously maintained its original profit forecast for the full year citing global economic uncertainty. For the current financial year, Sumitomo maintained its May forecast for a net profit of 340 billion yen, a rise of 25.2 percent on-year. Between April and June, operating revenue rose 14 percent to 871.14 billion yen (9.9 billion dollars), sharply higher from last year's 19.6 percent fall. Shares in SMFG added 3.55 percent to 2,679 yen in Tokyo trade ahead of the earnings announcement. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 27 minutes ago Boeing profit beats but shares fall on revenue Reuters - 27 minutes ago Panasonic to make Sanyo, other unit wholly-owned-sources Reuters - 29 minutes ago IMF gives ground on yuan exchange rate debate Reuters - 29 minutes ago Ageing tycoon Sulaiman Al-Rajhi starts asset transfer Reuters - 30 minutes ago News Search Top Stories BAE, Rolls-Royce clinch $1.1bn Hawk order in India Boeing second quarter profit down 21% Daniel Craig to star in Millennium Trilogy Maradona dropped as Argentina coach Telefonica to buy Vivo stake from Portugal Telecom More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended World's first full face transplant man appears on TV Oracle's Ellison highest paid CEO of the decade Argentine students crack three-decade-old murder mystery Alcohol eases rheumatoid arthritis: study Ansel Adams garage sale photos worth USD200m More Most Viewed » Parachuting donkey shocks Russian beachgoers World's first full face transplant man appears on TV Paris Hilton caught with cannabis in handbag Quark by quark, atom smasher closing in on 'God particle' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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