Earnings

Sumitomo Mitsui Trust swings net interest income to profit

The Tip Desk · November 12, 2026 · 2 min read

Consolidated net interest income reached ¥75.58 billion in the first half of fiscal 2026 after a ¥27.85 billion loss a year earlier.

Sumitomo Mitsui Trust Group (SMTG) swung consolidated net interest income to a ¥75.58 billion profit in the first half of fiscal 2026, from a ¥27.85 billion loss in the first half of fiscal 2025, a ¥103.43 billion year-on-year improvement.

The franchise’s non-consolidated net interest income also turned positive, at ¥124.46 billion, from a ¥8.51 billion loss a year earlier. Domestic net interest income was ¥169.18 billion. International net interest income remained a ¥44.73 billion loss.

The domestic banking-account loan-deposit margin compressed to 0.62% from 0.70%. Combined banking and principal-guaranteed trust loan-deposit margin was 0.63%. Average yield on interest-earning assets on the domestic banking account was 1.55%, and the average yield on interest-bearing liabilities was 0.75%.

Consolidated net fees and commissions rose to ¥226.39 billion from ¥182.29 billion. Other trust fees were ¥58.93 billion. Net fees and commissions and related profit were ¥285.32 billion.

Consolidated net trading profit flipped to a ¥4.71 billion loss from a ¥45.03 billion profit. Net gains on stocks were ¥122.33 billion, versus ¥39.86 billion a year earlier. Net gains on bonds fell to ¥1.05 billion from ¥13.64 billion.

Consolidated gross business profit increased to ¥538.93 billion from ¥430.65 billion. Consolidated net business profit before credit costs rose to ¥258.29 billion from ¥181.91 billion.

The non-consolidated overhead ratio improved to 44.43% from 52.41%. Non-consolidated gross business profit was ¥421.03 billion.

Consolidated net interest income and related profit was ¥81.36 billion. Net other operating profit was ¥176.96 billion, including ¥149.64 billion of net gains on foreign exchange transactions.