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.
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Sumitomo Mitsui Financial Group, the parent of Sumitomo Mitsui Banking, is one of Japan's three so-called megabanks. © Reuters
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