Sumitomo Mitsui Financial Group Raises Profit Forecast

TOKYO (Reuters) – Sumitomo Mitsui Financial Group (NYSE:SMFG), Japan's second-largest lender by assets, raised its annual net profit forecast on Thursday to a record 1.16 trillion yen ($7.44 billion) after a 27% jump in second-quarter profit helped in part by higher interest rates.

SMFG reported group net profit of 354 billion yen ($2.27 billion) for July-September, an increase from 278 billion yen in the same quarter a year earlier.

The group updated its full year guidance from 1.06 trillion yen.

> Note: ($1 = 155.8100 yen)