TOKYO: Aozora Bank Ltd., a leading Japanese commercial bank, announced its financial results for the first three months of FY 2019. In the first three months of FY2019, Aozora reported consolidated net revenue of 23.3 billion yen, business profit of 11 billion yen, and profit attributable to owners of parent of 11.8 billion yen, representing progress of 27%, 31%, and 33%, respectively, towards the full-year forecasts.
Shinsuke Baba, Representative Director, President and Chief Executive Officer of Aozora Bank commented, “During the first quarter, the global economy, led by the US market, continued its moderate recovery path, while concerns over a slowdown in economic growth grew due to prolonged trade disputes between the U.S. and China.
“In Japan, the ongoing low interest rate environment remained in place amid global monetary easing trends. With these conditions in mind, Aozora is pleased to report increases in both net revenue and earnings, representing progress of 27% and 33%, respectively, of our full-year forecast. Today we also announced a first quarter dividend of 39 yen per common share, equivalent to a quarter of the full-year dividend forecast of 156 yen per common share.”
Baba concluded, “Our management team remains committed to enhancing the performance of each business area through a selection and concentration strategy while striving to further increase our corporate value. We will also remain focused on new business initiatives for future growth. I would like to express my gratitude to all of our stakeholders for their understanding and continued support.”
Edited by Nayyar Iqbal