Japan’s Sumitomo Mitsui Financial posts 24.2% jump in Q1 net profit

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Sumitomo Mitsui posted a profit of 252.4 billion yen ($1.90 billion) in the April-June period versus 203.2 billion yen. That compared with an average profit estimate of 156.33 billion yen from two analysts surveyed by Refinitiv.

The banking group maintained its full-year net profit forecast at 730 billion yen, compared to the average of 742.33 billion yen forecast by 12 analysts.

($1 = 132.6800 yen)