Mizuho Financial Group reported a 39.1% year-on-year increase in first-quarter net income to 170.1 billion yen, with core operating profit surging 81.9% to 575.8 billion yen, prompting the company to raise its full-year guidance. The bank achieved a record-high ROE of 12.5% and an expense ratio of 47.7%, below its 50% target, while loan balances grew 3.3% year-on-year. The securities and investment banking segment performed robustly, particularly in M&A and equity underwriting, aided by the Greenhill acquisition. The company maintained its plan to buy back up to 100 billion yen of its own shares, with 15 billion yen already executed, and its CET1 ratio remained strong at 12.5%. Management flagged ongoing geopolitical risks, particularly in the Middle East and the Taiwan Strait, and potential volatility in Japanese government bond yields as key uncertainties.
Mizuho Financial Group, Inc.Q1 net income rose 39.1% with core operating profit up 81.9%, prompting raised full-year guidance and a maintained 100 billion yen buyback.
