Japan's top 3 banks to log record profit on high overseas interest

U.S. rate hikes boost margins on lending operations

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Japan's top three banking groups received a boost to earnings from higher interest rates in the U.S. 

YUKI SEKIGUCHI and YUKI NAKAMURA, Nikkei staff writers

TOKYO -- Japan's top three banking groups are expected to report a record combined net profit of around 3 trillion yen ($19.3 billion) for the year ended in March 2024, as higher interest rates overseas improved margins on lending operations.

The number would mark a 20% jump from the previous year and would be the highest since Japan's banking industry was consolidated into the three top players in fiscal 2005.

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