Mizuho Profit Rises as Banks Get Little Respite From BOJ
- Bank shares fell earlier as BOJ pledged to keep rates low
- ‘Painful situation’ for lenders will continue, analyst says
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Mizuho Financial Group Inc.’s first-quarter profit rose, as gains from fee businesses and sales of its shareholdings helped the Japanese lender offset the effects of the central bank’s continuing monetary stimulus program.
Net income climbed 36 percent to 161 billion yen ($1.4 billion) in the three months ending June 30 from a year earlier, the Tokyo-based bank said in a statement on Tuesday.