Mizuho posts slight profit increase for 1Q15
(3 August 2015 – Japan) Mizuho Financial Group Inc posted a 2.1 percent increase in first-quarter earnings helped by higher fee income which offset a drop in lending profit.
Net income rose to ¥158 billion yen (A$1.74 billion) in the three months ended 30 June from ¥154.7 billion a year earlier.
In recent years Japanese lenders have achieved growth in domestic loan balances, but profit has been squeezed by shrinking interest margins.
That has prompted banks to expand abroad and seek income from areas other than lending, such as sales of investment products.
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