Japan's SMFG lifts profit forecasts after Q2 net income rises 27%

TOKYO (Reuters) - Sumitomo Mitsui Financial Group (NYSE:SMFG ), Japan's second-largest lender by assets, raised its annual net profit forecast on Thursday to a record 1.16 trillion yen ($7.44 billion) after a 27% jump in second-quarter profit helped in part by higher interest rates.

SMFG said group net profit came to 354 billion yen ($2.27 billion) in July-September, compared with 278 billion yen in the same quarter a year earlier.



It raised its full year guidance from 1.06 trillion yen.

($1 = 155.8100 yen)

Source: Investing.com