, Japan

Japan’s megabanks saw 22.3% profit surge to ¥718.86 in 4Q14

Thanks to lower credit costs and growing overseas business.

Japan’s three biggest banks closed the year on a high note.

According to a report by SNL Financial, the profit of Japan's three biggest banks — Sumitomo Mitsui Financial Group Inc., Mizuho Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. — jumped 22.3% year over year in the quarter ended Dec. 31, 2014.

The banks posted combined fiscal third-quarter net income attributable to parents of ¥718.86 billion, compared to ¥587.61 billion in the year-earlier period.

Mitsubishi UFJ recorded the highest quarterly growth at 36.5%. Most of that growth came from noninterest income, which shot up by 36%; the major contributors were revenue from fee & commission and trading assets. The company's tangible equity and ROAA ratios for the third quarter were the highest in the group at 5.42% and 0.57%, respectively. The market also applauded the quarterly performance, as the company's stock rose by 5.16% the day after it announced results.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!