July 27, 2016 / 7:40 AM / 3 years ago

Japan bank SMFG's Q1 profit skids 31 pct, negative interest rates weigh

TOKYO, July 27 (Reuters) - Sumitomo Mitsui Financial Group , Japan’s third-largest lender, said net profit fell 31 percent in the first-quarter, with returns on loans and bond investments hurt by the negative interest rate policy adopted by the country’s central bank.

The lender said its April-June net profit slipped to 184.3 billion yen ($1.74 billion) from 267.9 billion yen a year earlier. That was still well above an average estimate of two analysts polled by Thomson Reuters of 166 billion yen. ($1 = 105.6500 yen) (Reporting by Taiga Uranaka; Editing by Kenneth Maxwell)

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