Sumitomo Mitsui Financial Group Inc. said Friday its consolidated net profit plunged 51.2 percent from a year ago to ¥83.3 billion in the April-September half amid the ongoing global financial turmoil.
Meanwhile, its banking unit, Sumitomo Mitsui Banking Corp., posted net profit of ¥80.4 billion for the first six months of fiscal 2008, up 26 percent from a year earlier.
On a consolidated basis, credit costs soared 111 percent to ¥302.1 billion. Subprime-related losses totaled ¥4.6 billion in the six months to September, SMFG said.
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