January 29, 2025 09:11 GMT
FINANCIALS: Sumitomo Mitsui Financial Group (a1/A-/A-) - Q3 25 Results
FINANCIALS
Sumitomo Mitsui Financial Group (a1/A-/A-) - Q3 25 Results
Heading in the right direction, just shy of net income target. Neutral for spreads
- Net interest income is better year on year to JPY1,680bn, but -8% on Q2 25
- Fees and commission income better to JPY1,171bn and other income almost flat at JPY305bn vs Q1-3 24.
- Loan spreads edging higher domestically and overseas
- NPL's continue declining, NPL ratio down to 0.68% on consolidated basis. Cost of risk stable.
- Expenses higher but within expectations
- Net Income at SMBC as a result up c.46% to JPY 1,014bn, JPY 24bn behind target
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