SMFG raises profit forecast and expands buyback
Sumitomo Mitsui Financial Group raised its annual profit forecast and expanded its share buyback program. However, the CEO warned of potential risks from a slowdown in global AI data centre investments.
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SUMITOMO MITSUI FINANCIAL GR raised its annual net profit forecast to 1.9 trillion yen from 1.7 trillion yen on Friday morning, boosting shareholder returns. The upward revision follows robust corporate lending demand from local firms and higher domestic interest margins. The banking group expanded its share buyback programme by 220 billion yen, bringing total repurchases to 400 billion yen for the fiscal year ending in March 2027.
