Aozora releases 9M results

by Richard Kilner

Story link: Aozora releases 9M results

Aozora Bank has announced its financial results for the first nine months of its financial year.

The bank recorded consolidated ordinary profit of 7.5bn yen and consolidated net income of 7.3bn yen.

This marks an improvement on the six-month period, when net income of 6.5bn yen was recorded.

The figures achieved far outstrip the bank’s forecasts, which had predicted consolidated ordinary income of 3bn yen and net income of 5bn yen.

Taking account of the recent and better than expected results, the bank has revised its predictions for the full-year up to 5bn yen for consolidated ordinary income and 7bn yen for net income.

Net revenue was marginally up on the same period last year, rising from 52.2bn yen to 54.1bn yen.

President and CEO Brian F. Prince has expressed his pleasure at Aozora recording a third consecutive profitable quarter, attributing the results to improved earnings, successful cost reduction and stabilisation of credit.