TOKYO (Reuters) – Sumitomo Mitsui Financial Group Inc (SMFG), Japan’s second-largest lender by assets, reported on Friday a 15.2% drop in fourth-quarter net profit, primarily due to an increase in credit-related costs amid the COVID-19 outbreak.
SMFG posted a profit of 78.9 billion yen ($722.13 million) in the three months through March compared with 93.1 billion yen in the year-ago period, according to Reuters calculations based on the bank’s filing.
($1 = 109.2600 yen)
(Reporting by Takashi Umekawa; Editing by Kevin Liffey)
