Mizuho Bank and Sumitomo Mitsui Trust Bank will raise yen time deposit rates from August 3. Mizuho Bank will increase the one-year rate by 0.1 percentage point to 0.5 percent, and the five-year rate by 0.125 percentage point to 0.825 percent, with hikes ranging from 0.1 to 0.175 percentage point depending on the term. Sumitomo Mitsui Trust Bank will raise the one-year rate by 0.1 percentage point to 0.525 percent, with increases of 0.1 to 0.3 percentage point depending on the term. Other major banks are expected to follow suit soon.
Sumitomo Mitsui Trust Group, Inc.Sumitomo Mitsui Trust Bank raises time deposit rates, which can improve net interest margins.
Mizuho Financial Group, Inc.Mizuho Bank raises time deposit rates, which can improve net interest margins.