SMFG Outperforms Other Japanese Banks in Latest Quarter and Remains Our Top Pick
Sumitomo Mitsui Financial Group reported the strongest results for the July-September quarter of Japan's six major banking groups, being the only one to show an increase in net interest income year on year, notwithstanding the pressure on domestic lending rates from the Bank of Japan’s negative-interest-rate policy.Besides higher lending income and net fees, SMFG’s expense ratio also improved sequentially from 59.6% to 57.2%, the lowest among Japan’s major banks, driving a 9% year-on-year incre...
Sumitomo Mitsui Financial Group is a holding company of the group mainly engaged in the provision of finance services. Co. offers services include deposits, loans, securities transaction, securities investment, domestic and foreign exchange, futures trading, bond fiduciary and registration, trust, security investment trust and insurance over-the-counter sales; leasing business; securities business; consumer finance, automobile sale finance business, venture capital business, business consulting, membership business, loan business, factoring, system development, information processing, money collection, swap related and investment adviser, among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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