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(Update) 3 Major Japan Banks' Net Profit Hits Record High for 2nd Yr

(Update) 3 Major Japan Banks' Net Profit Hits Record High for 2nd Yr

Mitsubishi UFJ Financial Group CEO Hironori Kamezawa (left) speaks at a press conference in Tokyo on Thursday.
Mitsubishi UFJ Financial Group CEO Hironori Kamezawa (left) speaks at a press conference in Tokyo on Thursday.

   Tokyo, May 15 (Jiji Press)--The combined net profit of three major Japanese banking groups in fiscal 2024 grew 25.3 pct from the previous year to 3,926.3 billion yen, hitting a record high for the second straight year.
   The three groups--Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc.--saw their earnings boosted by improved margins and gains on sales of equities and other assets, thanks to higher interest rates following policy rate hikes by the Bank of Japan.

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AFP-JIJI PRESS NEWS JOURNAL


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