Sumitomo Mitsui H1 Net Profit Up 5.5%

Sumitomo Mitsui Financial Group SMFG reported a 5.5% rise in its net profit for its fiscal first half. The bank's net profit for the period surged to Y331.04 billion ($4.19 billion), from Y313.76 billion, in the year-ago quarter. Its operating revenue climbed 1.1% to Y2.068 trillion from Y2.045 trillion. It also lifted its net profit forecast to Y540 billion from Y480 billion. Sumitomo Mitsui Financial shares closed at $5.87 yesterday.