3 Japan megabanks earn 1.3 trillion yen profits in 1st half

November 3, 2017

TOKYO- Combined consolidated net profits at Japan's three megabank groups are estimated to have topped 1.3 trillion yen in April-September, up from the 1,207.7 billion yen a year before, posting the first rise in four years on a fiscal first-half basis, Jiji Press learned Thursday.

The banking groups' profits from loan operations continued to slump because of the effects of the Bank of Japan's negative interest rate policy, introduced in February 2016. But they enjoyed increases in profits from sales of cross-held shares thanks to higher stock prices, informed sources said. Jiji Press