SMFG Second-Quarter Profit Falls 10%, Annual Forecast Raised
Sumitomo Mitsui Financial Group said net profit fell 10% year over year in the second quarter, while it raised its annual earnings forecast. The company cited strong corporate lending demand and higher domestic interest rates lifting lending margins.
Sumitomo Mitsui Financial Group TSE:8316 said on Friday its second-quarter net profit fell 10% from a year earlier, though it boosted its annual earnings forecast as corporate lending demand from local firms remained strong and higher domestic interest rates raised lending margins.Japan's second-la…