TOKYO (Reuters) -Mizuho Financial Group Inc, Japan’s third-largest lender by assets, reported on Friday an 8.2% increase in quarterly net profit, helped by brisk loan demand from companies and subdued loan-loss provisions.
Mizuho posted a profit of 226.57 billion yen ($1.54 billion) in the October-December period versus 209.31 billion yen a year earlier, according to Reuters’ calculations based on nine-month cumulative figures disclosed in a stock exchange filing.
The bank kept its full-year profit forecast through March at 640 billion yen, which compares with the 646.67 billion yen average of 11 analysts’ estimates compiled by LSEG.
Mizuho joined larger domestic rival Sumitomo Mitsui Financial Group (SMFG) in reporting solid third-quarter profits backed by strong lending businesses, as Japanese companies began to invest in growth opportunities.
Japan’s top lender Mitsubishi UFJ Financial Group will report its quarterly results on Monday.
Japanese banks’ exposure to the U.S. commercial property market came under scrutiny after midsize lender Aozora Bank flagged its first annual net loss in 15 years on massive loan-loss provisions, but analysts say the problems at Aozora are mostly unique.
($1 = 146.7100 yen)
(Reporting by Makiko Yamazaki; Editing by Jacqueline Wong and Kim Coghill)
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