Sumitomo Mitsui Financial Group 2021 Financial Overview
1H FY3/2022 financial results
1H
FY3/21
YOY
(JPY bn)
FY3/22
Consolidated gross
1
2,806.2
1,431.3
+53.9
profit
G&A expenses
1,747.1
875.9
2
Overhead ratio
62.3%
61.2%
+39.5
+0.5%
Equity in gains (losses)
3
25.0
30.7
+20.5
of affiliates
Consolidated
4
1,084.0
586.1
+34.9
net business profit
5 Total credit cost
360.5
26.7
(173.5)
6 Gains (losses) on stocks
92.6
81.2
+44.9
Other income
7
(105.0)
(10.6)
+30.4
(expenses)
8 Ordinary profit
711.0
630.0
+283.7
Extraordinary gains
6
(38.8)
(3.3)
+1.1
(losses)
10 Income taxes
156.3
167.4
+96.0
Profit attributable to
11
512.8
456.1
+185.9
owners of parent
12 ROE
5.4%
9.4%
+3.7%
Consolidated gross profit: increased YoY due to steady
progress of RT, WS, and GB Business Units, despite lower gains
on sales of bonds in GM Business Unit.
G&A expenses: increased YoY mainly due to business recovery
from COVID-19, as well as higher marketing cost of SMCC,
which is successfully increasing new customers.
● Equity in gains of affiliates: increased YoY mainly due to
business recovery in SMFL (incl. SMBCAC) and affiliates in Asia.
• Total credit cost: sharply decreased YoY due to the reversal of
credit cost mainly from large borrowers at SMBC.
Gains on stocks: increased YoY due to gains on sales of stocks
related to the reorganization of Kansai Mirai FG and higher gains
on ETF sales.
Gains on sales of strategic shareholdings: JPY 36 bn (YoY JPY 1
bn)
Other income: increased YoY due to the absence of the loss
from forward dealings recorded in FY3/21, which aim to mitigate
risk of stock prices.
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