Japan’s top 3 banking groups lift profit outlooks amid BoJ rate hikes
AgenciesJapan’s top three banking groups on Friday raised their net profit forecasts for the year ending March 2027 as the Bank of Japan’s interest rate hikes boosted lending margi...
Japan's three largest banking groups have raised their profit forecasts for the year ending March 2027, citing higher interest rates from the Bank of Japan (BOJ) as a key driver. Mitsubishi UFJ Financial Group Inc. now expects its full-year net profit to reach 2.8 trillion yen ($17.5 billion), up 100 billion yen from its previous forecast, while Sumitomo Mitsui Financial Group Inc. increased its outlook by 200 billion yen to 1.9 trillion yen, a 20 percent rise from the previous year.
Mizuho Financial Group Inc. also revised up its net profit projection by 200 billion yen to 1.6 trillion yen. The BOJ raised its policy rate to around 1.25 percent in September, its highest level in 31 years, and although it left the rate unchanged at its October meeting, it signaled room for further hikes to stabilize prices.
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