1H16 Better-Than-Expected Results Suggest Earnings Inflection Points; Positive For Japanese Banks
Four major banks under our coverage reported better-than-expected results, indicating an inflection point in their earning structure. In aggregate, of four major banks under our coverage, the numbers are similarly down across most metrics. On average, net income fell 11% from the year-ago period with operating income decreasing 19% from the year ago period. Momentum in trading and commission, both tracking the midcycle average, failed to offset lower net interest income, down 13% from the year-a...Mizuho Financial Group is a financial holding company with total assets of Y204,255,642 million as of Mar 31 2018. Retail & Business Banking Company provides financial services for individual customers and SMEs. Corporate & Institutional Company provides financial services for large corporations, financial institutions and public corporations. The Global Corporate Company provides financial services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers. Global Markets Company invests in financial products with market risk. The Asset Management Company develops financial products and provides financial services for individuals and institutional investors.
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