TOKYO, July 30 Sumitomo Mitsui Financial Group Inc (SMFG) on Wednesday said first-quarter profit fell 20 percent as gains in the value of stock holdings paled in comparison with the year prior when prices rose after government promises of economic growth.
Japan's third-biggest bank by assets said in a statement that net profit totalled 230.8 billion yen ($2.3 billion) for the three months ended June 30, from 288.3 billion yen in the same period a year earlier.
The bank kept its forecast for the year ending March at 680 billion yen, 18.6 percent less than a year earlier and below a 695.5 billion yen mean estimate of 18 analysts polled by Thomson Reuters. ($1 = 102.1600 Japanese Yen) (Reporting by Taiga Uranaka; Editing by Christopher Cushing)
UPDATE 1-Intesa Sanpaolo moves to syndicate Rosneft deal loan - sources
LONDON, May 25 Intesa Sanpaolo has launched the process to syndicate a loan it provided to Glencore and a Qatari sovereign wealth fund for their purchase of a 19.5 percent stake in Russia's Rosneft, banking sources said on Thursday.
WRAPUP 1-Canadian banks play down concerns of Home Capital contagion
TORONTO, May 25 Three of Canada's biggest banks on Thursday played down concerns that Home Capital Group's problems could impact the broader financial system and reported quarterly results that topped market expectations.