November 14, 2018 / 8:44 AM / a month ago

Japan lender SMFG posts 12.5 pct rise in first-half net profit

TOKYO, Nov 14 (Reuters) - Sumitomo Mitsui Financial Group Inc (SMFG) said on Wednesday net profit rose 12.5 percent in the six months through September, helped by gains from its stock holdings and smaller bad loan costs.

Profit was 472.6 billion yen ($4.15 billion) in April-September, compared to 420.2 billion yen in the same period a year earlier.

For the full-year through March, Japan’s third-largest lender by assets kept its profit forecast at 700 billion yen, down 4.7 percent from the year prior and below the 751.9 billion yen average of 14 analyst estimates compiled by Refinitiv. ($1 = 113.8600 yen) (Reporting by Taiga Uranaka; Editing by Christopher Cushing and Muralikumar Anantharaman)

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