Mizuho’s profits tripled in 9M FY2024

Consolidated gross profits rose 288.9% thanks to the rate hike and NII growth.

Mizuho Financial Group’s (MFG) profit attributable to owners of the parent more than tripled to JPY855.3b (approximately $5.62b) for the March - December 2024 period of FY2024.

This is 213% year-on-year (YoY) higher compared to the JP642.32b ($4.22b) it earned for the 9M FY2023 period, driven mainly by consolidated net business profits doubling during the period.

MFG estimates its cash dividends per share to be JPY130 in total for FY2024.

Consolidated gross profits rose 288.9% YoY to JPY2.31b ($15.18m) thanks to the impact of the Bank of Japan’s (BoJ) rate hike as well as growth of its non-interest income.

As of 31 December 2024, total assets are JPY285.39t (over $1.87t), higher than the JPY278.67t ($1.83t) recorded on 31 March 2024. 

Whilst cash and due from banks fell to $425.68b (JPY64.77t) in Q3 FY2024 compared to $479.56b (JPY72.97t) in end-FY2023, monetary claims bought, trading assets, receivables under resale agreements, and loans and bills discounted helped lift up total assets.

Total liabilities are up to $1.81t (JPY274.81t), compared to $1.76t (JPY268.36t) in end-FY2023.

(US$1= JPY152.17; as of 6 February 2025, 12:15PM, from Google)