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Japan’s Mizuho Financial Group posts 79% jump in H1 profit -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The signboard for Mizuho Bank is seen in Tokyo, Japan on January 25, 2017. Photograph taken January 25, 2017. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters – Japan’s third-largest bank by assets, Mizuho Financial Group said Friday it saw a 79% increase in its half-year net profits despite being plagued with technical difficulties at its retail banking division.

In April and September, the bank posted a profit of 385.7 trillion yen ($3.38 billion), which is a significant increase from 215.5 billion yen reported a year ago.

Mizuho raised its profit estimate to 530 Billion yen, from the earlier estimate of 580 billion yen. Refinitiv’s average analyst estimate of 558.9 million yen was 558.9, which is an increase from the previous estimate of 510 billion yen.

($1 = 114.2400 yen)

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