Aozora reports net earnings of 11.8 billion yen

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