Sumitomo Mitsui Financial Group (Sumitomo Mitsui Financial Group) Credit Losses Provision : $1,672 Mil (As of Dec. 2023)

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What is Sumitomo Mitsui Financial Group Credit Losses Provision?

Sumitomo Mitsui Financial Group's credit losses provision for the three months ended in Dec. 2023 was $238 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $1,672 Mil.

Sumitomo Mitsui Financial Group's quarterly credit losses provision increased from Jun. 2023 ($311 Mil) to Sep. 2023 ($381 Mil) but then declined from Sep. 2023 ($381 Mil) to Dec. 2023 ($238 Mil).

Sumitomo Mitsui Financial Group's annual credit losses provision declined from Mar. 2021 ($3,316 Mil) to Mar. 2022 ($2,314 Mil) and declined from Mar. 2022 ($2,314 Mil) to Mar. 2023 ($1,573 Mil).

Sumitomo Mitsui Financial Group Credit Losses Provision Historical Data

The historical data trend for Sumitomo Mitsui Financial Group's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Sumitomo Mitsui Financial Group Credit Losses Provision Chart

Sumitomo Mitsui Financial Group Annual Data

Trend

Mar14

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Mar23

Credit Losses Provision

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992.40

1,584.51

3,316.50

2,314.10

1,572.60

Sumitomo Mitsui Financial Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															207.43	741.43	310.91	381.39	238.35

Sumitomo Mitsui Financial Group Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,672 Mil.

Sumitomo Mitsui Financial Group (Sumitomo Mitsui Financial Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) » Definitions » Credit Losses Provision

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Traded in Other Exchanges

SMFNF:USA SMFG:Mexico 8316:Japan 8316:Japan XMF:Germany XMFA:Germany XMF:Germany S1MF34:Brazil

Address

1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo, JPN, 100-0005

Website

https://www.smfg.co.jp

Sumitomo Mitsui Financial Group is roughly tied with Mizuho Financial Group for the status of Japan's second-largest bank after Mitsubishi UFJ Financial Group. As of March 2023, its market share of domestic loans was 7.1%, compared with 8.1% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and SMBC Card. It also controls one of Japan's largest leasing companies and SMBC Aviation Capital, one of the top five aircraft lessors globally. In securities, its SMBC Nikko unit is Japan's third-largest retail broker, although SMFG has lagged somewhat in institutional securities business and asset management.