Sumitomo Mitsui Financial Group FY27 Q1 net income rises 33.04% to JPY 501.4 billion

• Sumitomo Mitsui Financial Group posted net income of JPY 501.4 billion, up JPY 124.5 billion year on year; progress reached 29% of its FY3/27 target.
• Net business profit rose JPY 178 billion year on year to JPY 722.3 billion, reaching 30% of its JPY 2.4 trillion full-year goal.
• Ordinary profit climbed JPY 209.8 billion year on year to JPY 693.1 billion, while total credit cost held at JPY 74.8 billion.
• Gross profit increased JPY 315.7 billion year on year to JPY 1.4 trillion, while G&A expenses rose JPY 112.5 billion to JPY 712.2 billion.
• ROTE improved 2.5 percentage points to 13.8%, with management noting Middle East-related risk impacts have not yet materialized.

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