Japan Post Bank’s net income up 10.8% in Q1

Net income per share is JPY26.61.

Japan Post Bank’s net income rose 10.8% year-on-year (YoY) to $655.22m (JPY96.23b) in the three months ended 30 June 2024, its latest financial results showed.

Ordinary income was 5.8% YoY lower at $4.12t (JPY605.67b), but net ordinary income was 16.2% higher at $937.66m (JPY137.71b) during the Q1 FY2025/3 period.

Net income per share is JPY26.61 for the quarter, higher than the JPY23.95 a year earlier.

Net interest income rose by $608.72m (JPY89.4b) to $1.76t (JPY258.6b) thanks to an increase in income related to foreign bond investment trusts.

Net fees and commissions were $267.61m (JPY39.3b) for the quarter, a slight increase from Q1 FY2024/3.

General and administrative expenses rose by over $4.08m (JPY0.6b) in Q1 FY2025/3 compared to Q1 FY2024/3.

Total assets are $1.62t (JPY238.6t) as of 30 June. Deposits were $1.32t (JPY193.3t), liquid deposits were $853.91b (JPY125.4t), and fixed-term deposits were $461b (JPY67.7t)

(US$1 = JPY146.85)