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SMFG says lost $889 mln on subprime in 2007/08

Fri May 16, 2008 4:29am EDT
 
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TOKYO, May 16 (Reuters) - Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research, Stock Buzz), Japan's third-largest lender, said on Friday it lost 93 billion yen ($889 million) on investments related to subprime mortgages in the year to March 2008.

That was unchanged from SMFG's previous estimate on its subprime damage. (Reporting by David Dolan)

 

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