TOKYO -- Japan's three biggest banking groups project robust profit growth for the year ending in March, but persistent concern over the U.S. banking system poses a potential risk to their rosy outlook.
Consolidated net profit at Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group grew 5% to a nine-year high of 2.48 trillion yen ($18.2 billion) in fiscal 2022, thanks to a rise in both domestic and foreign lending along with favorable interest rate spreads abroad.
