TOKYO (dpa-AFX) - Sumitomo Mitsui Financial Group, Inc. (SMFG) Wednesday reported net profit of 962.946 billion yen or 724.34 yen per share for the full year, higher than 805.842 billion yen or 590.26 yen per share in the previous year, mainly helped by growth in interest income as well as fees and commissions.
Interest income increased to 6,213.520 billion yen from 3,779.715 billion yen last year, while fees and commissions rose to 1,716.335 billion yen from 1,441.313 billion yen.
Ordinary income for the year grew to 9,353.590 billion yen from 6,142.155 billion yen in the previous year.
As of March 31, 2024, net assets were 14,799.967 billion yen or 11,157.36 yen per share, up from 12,791.106 billion yen or 9,430.52 yen per share a year ago.
Sumitomo Mitsui said its year-end dividend of 135 yen per share will be paid on June 28.
Additionally, the company's Board has resolved to conduct a 3-for-1 stock split on the record date of September 30, 2024.
Looking forward to fiscal 2024, Sumitomo Mitsui expects net profit to increase 10.1 percent to 1,060.000 billion yen. Earnings per share for the year is expected to be 271.34 yen.
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