Sumitomo Mitsui Banking Corporation’s net profit up to $9.34b for FY2022

Year-end dividend per share is JPY125 or US$92.

Sumitomo Mitsui Banking Corporation saw its net business profit rise to JPY1.27t or about US$9.34b in the fiscal year that ended on 31 March, its latest financial statements showed. 

This is reportedly a JPY123.6b ($910m) increase year-on-year compared to their net profits in FY2021.

The depreciation of yen, higher interest income from domestic and international loans, and a rise in fees and commissions thanks to good results from SMBC’s ancillary businesses, all contributed to the higher profits, SMBC said.

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Total credit costs contracted by JPY64.2b in FY2022 to JPY210.2b.

Profit attributable to owners of SMBC came at JPY805.8b, which is a JPY99.2b rise from the previous fiscal year’s profit.

SMBC’s board has declared a year-end dividend per share of JPY125 (approximately US$0.92), to be paid out on 30 June.

(JPY1 = US$0.0074; as of May 16, 2023)