TOKYO -- Japan's Sumitomo Mitsui Financial Group expects to surpass 1 trillion yen ($6.42 billion) in group net profit in the fiscal year ending in March 2025, crossing the threshold around four years earlier than expected amid higher interest rates at home and abroad.
The bank on Wednesday will announce its results for fiscal 2023, the year that ended in March. Net profit is believed to have grown about 20% to the upper 900 billion yen range, which would set a record for the first time in a decade.
