Sumitomo Mitsui Financial Group's credit losses provision for the
three
months ended in Mar. 2022 was $0 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2022 was $0 Mil.
Sumitomo Mitsui Financial Group's annual credit losses provision
increased
from Mar. 2020 ($540 Mil) to Mar. 2021 ($2,033 Mil) but then
declined
from Mar. 2021 ($2,033 Mil) to Mar. 2022 ($1,404 Mil).
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 Mar. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $0 Mil.
* 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.
Sumitomo Mitsui Financial Group Business Description
Traded in Other Exchanges
Address
1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo, JPN, 100-0005
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 2021, its market share of domestic loans was 7.0%, compared with 8.5% 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, areas that it is working on strengthening.
Sumitomo Mitsui Financial Group Headlines
By Seekingalpha 2021-02-15
By Seekingalpha 2021-05-22
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