SMFG · Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Financial Group (SMFG) reported strong financial results for the fiscal year ended March 31, 2026, with profit attributable to owners of parent increasing 34.4% to ¥1,583.0 billion from ¥1,178.0 billion in the prior year. The improvement was driven by higher net interest income, which rose 16.3% to ¥2,719.6 billion, reflecting higher loan yields and a favorable interest rate environment. Net fees and commissions also grew 16.8% to ¥1,820.6 billion, supported by increased transaction volumes and asset management fees. Consolidated net business profit, a key measure of core earnings, increased 35.6% to ¥2,330.9 billion. Gains on stocks contributed ¥446.1 billion, compared to ¥509.8 billion in the prior year, while total credit cost increased to ¥388.4 billion from ¥344.5 billion, reflecting higher provisions for loan losses. At the subsidiary Sumitomo Mitsui Banking Corporation (SMBC), non-consolidated net income rose 32.1% to ¥1,411.7 billion, with core banking profit up 28.1% to ¥1,588.4 billion. The overhead ratio improved to 44.3% from 47.5%, indicating better cost efficiency. The results demonstrate SMFG's ability to generate strong earnings growth despite higher credit costs, supported by a diversified revenue base and favorable market conditions.