Low interest rates still squeezing Japanese banking profits
Nikkei -- May 16
Japan's five leading banking groups reported a third straight year of shrinking aggregate profit Monday, hampered by the central bank's negative interest rate policy, but the strength of their overseas operations helped stave off a worse result.

Combined net profit fell 3% from the previous year to 2.51 trillion yen ($22 billion) for the five groups, which include Japan's three megabanks as well as Resona Holdings and Sumitomo Mitsui Trust Holdings. Only Sumitomo Mitsui Financial Group saw an increase, with net profit bouncing back 9% to 706.5 billion yen from heavy year-earlier losses on consumer finance operations and foreign shareholdings.

News source: Nikkei
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