Most major banks posted big profits in the April-September first half as brighter business activities led to a reduction in bad loans, allowing them to shift money from loan-loss reserves to the profit section.
Mitsubishi UFJ Financial Group Inc. reported Monday that it had 507.27 billion yen in net profit, while Mizuho Financial Group Inc. raked in a record 392.34 billion yen.
But Sumitomo Mitsui Financial Group Inc. said Wednesday its net profit dropped 37.9 percent in the six months to 243.7 billion yen.
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