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Japanese banks expect a reduction in net profit in the next fiscal year

The three largest banks in Japan are expecting a decline in net profit in the 2015 fiscal year amid falling Japanese companies' quotes and low loan rates, reports Bloomberg.

Meanwhile, over the past fingod, banks received a record profit, the figure rose due to an increase in the country's stock indexes to a six-year high, which sharply increased their investment income.

Sumitomo Mitsui's net profit for the year ending March 31 increased by 5,2% in annual terms to 835,4 billion yen, Mizuho by 23% to 688,4 billion yen. Indicators of both banks were the highest in history. Profit Mitsubishi UFJ increased by 16% and amounted to 984,8 billion yen.

However, the rally of Japanese stocks came to an end, and since the beginning of the year the Nikkei 225 index fell by 12%. Also, a number of measures by the Central Bank of Japan led to a decrease in interest rates on loans, and as a result, the average net interest margin of banks is only 1,25% and is the lowest among Asian countries. A number of analysts fear that there is a risk of further lowering this value.

Sumitomo Mitsui and Mizuho, ​​ranked second and third in terms of capitalization among the country's banks, expect net profit decline in 2015 fingodu, which ends next March, by 19% and 20% respectively to 680 billion yen and 550 billion yen ($ 6,6 billion and $ 5,4 billion).

Analysts polled by Bloomberg, expected that Sumitomo Mitsui profits in the future Fingod will be 685 billion yen, Mizuho - 552 billion yen.

The country's first bank Mitsubishi UFJ, at market value, predicts a more moderate reduction in net profit - by 3,5%, to 950 billion yen. The forecast turned out to be higher than 896,6 billion yen expected by experts.

Shares of Sumitomo Mitsui since the beginning of the year have fallen in price on 23%, Mitsubishi UFJ - on 14,5%, Mizuho - on 11%.

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