Sumitomo Mitsui Financial Annual Profit Drops

Sumitomo Mitsui Financial Grp, Inc.(ADR) SMFG posted a 9.8 percent decline in its fiscal-year net profit. SMFG's net profit for the year slipped to Y753.61 billion from 835.4 billion yen, while revenue rose 4.5 percent to Y4.85 trillion yen. The company's net interest income climbed to Y1.5 trillion from Y1.48 trillion. For the current year ending March 2016, the company expects net profit of 760 billion yen. SMFG shares fell 2.34 percent to close at $8.76 yesterday.