Japan's SMFG posts 15.2% drop in Q4 net profit

Reuters

Published May 14, 2021 05:05AM ET

TOKYO (Reuters) - Sumitomo Mitsui (NYSE:SMFG) 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.