Norinchukin logs $540m profit in H1 FY2025

This is a reversal from the loss recorded in the same period in FY2024.

Norinchukin Bank is back in the black with a profit attributable to owners of the parent of about $539.99m (JPY84.6b) in the first half period of FY2025, its latest financial results showed.

This is a reversal from the about $5.7b (JPY893.9b) loss recorded in the same period in FY2024, the Japanese bank's financial highlights showed.

Under Basel III, its common equity tier 1 (CET1) ratio is 18.22%, compared to 17.7% in March 2025.

Ordinary income rose 8.2% year-on-year (YoY) to $6.96b (JPY1.09t) in H1 FY2025. Interest income fell by 47.8% YoY to $5.46b (JPY855.3b)

Ordinary expenses were lower by $5.98b (JPY936.8b) over the same period, totalling JPY1.01t compared to the $6.45b (JPY1.94b) in H1 FY2024.

For FY2025, Norinchukin continues to expect its full year profit to fall between JPY30b to JPY70b and expects that “the uncertainty in the market condition will persist.”

The Japanese cooperative bank has recently named a new CEO and appointed new senior directors.