[Sumitomo Mitsui Financial Group, Inc.]Sumitomo Mitsui Financial Group Announces Revision of Earnings Forecasts of a Consolidated Subsidiary (Kansai Urban Banking Corporation)(1/1)
Sumitomo
Mitsui Financial Group Announces
Revision of Earnings Forecasts of
a Consolidated Subsidiary (Kansai Urban Banking Corporation)
(Appendix)
Kansai Urban Banking Corporation Announces
Revision of Earnings Forecast for Fiscal Year ended
OSAKA, Japan, April26, 2006---Kansai Urban Banking Corporation (KUBC) announced today the revision of its previous earnings forecast for the fiscal year ended March 31, 2006, which was published on November 18, 2005.
1.
Revision of Earnings Forecast (Fiscal year ended
(Consolidated) (Millions of Yen)
|
Total Income |
Ordinary Profit
|
Net
Income
|
Previous Forecast (A) |
79,000
|
12,900
|
5,100
|
Revised Forecast (B) |
81,400
|
13,700
|
6,700
|
Difference (B) - (A) |
+ 2,400
|
+ 800
|
+
1,600
|
PercentageChange |
+ 3.0
|
+ 6.2
|
+
31.3
|
(Ref.) Year ended
|
71,295
|
10,108
|
6,680
|
(Non-consolidated) (Millions of Yen)
|
Total Income |
Ordinary Profit
|
Net
Income
|
Previous Forecast (A)
|
71,000
|
15,100
|
7,500
|
Revised Forecast (B) |
72,500
|
15,600
|
8,700
|
Difference (B) - (A) |
+ 1,500
|
+ 500
|
+
1,200
|
PercentageChange |
+ 2.1
|
+ 3.3
|
+
16.0
|
(Ref.) Year ended
|
59,920
|
9,675
|
6,148
|
2. Factors behind the revision
(1) Consolidated earnings
The revision is mainly due
to the significant increase of the balance of loans to
small and medium-sized enterprises as well as the steady increase of fee income.
KUBC expects ordinary profit to be 13.7 billion yen, an
increase of 0.8 billion yen (+6.2%) compared with the previous forecast and an increase of 3.5 billion yen (+35.5%) compared with the previous fiscal year’s result. Net income is
expected to be 6.7 billion yen, an increase of 1.6 billion yen
(+31.3%) compared with
the previous forecast and an increase of 0.02 billion
yen (+0.3%) compared
with the previous fiscal year’s result.
(2) Non-consolidated
earnings
The balance of loans and bills discounted,mainly to small
and medium-sized enterprises and individuals, increased by 260.9
billion yen (+13.9%) compared with
(References)
1.Major Indicators（Non-consolidated
basis）
(Billions of
Yen)
|
Fiscal
year ended
Mar.
2005
Actual
|
Fiscal
year ended
Mar.
2006
Estimate
|
|
|
Change
|
Percentage
change
|
|||
Core Banking Profit*1
|
20.0
|
25.0
|
5.0
|
+25.0%
|
Banking Profit
|
19.6
|
20.7
|
1.1
|
+5.6%
|
Ordinary Profit
|
9.6
|
15.6
|
6.0
|
+62.5%
|
Net
Income
|
6.1
|
8.7
|
2.6
|
+42.6%
|
|
|
|
|
|
Capital ratio
|
8.52%
|
Approx. 9.4%
|
Approx.
0.9%
|
-
|
Deferred tax assets / Tier1
|
19.4%
|
Approx.
11%
|
Approx.
(8%)
|
-
|
|
|
|
|
|
NPL ratio
|
3.9%
|
Approx.
2.6%
|
Approx.
(1.3%)
|
-
|
|
|
|
|
|
Core ROA *2
|
0.88%
|
Approx.
1.0%
|
Approx.
0.1%
|
-
|
Core ROE *2
|
29.2%
|
Approx.
31.0%
|
Approx.
1.8%
|
-
|
Core OHR*2
|
59.5%
|
Approx.
54.2%
|
Approx.
(5.3%)
|
-
|
*1. Core banking profit =
Banking profit – Provision for general reserve for possible loan losses – Gains/losses
on bonds
*2. Calculated based on core
banking profit
2.
Balance of Loans,
Deposits, and Investment Trusts under KUBC’s account
（Non-consolidated basis）
(Billions of Yen)
|
Mar.
2005
Actual
|
Mar.
2006
Estimate
|
|
|||
Change
|
Percentage
change
|
|||||
Deposits
|
2,203.9
|
2,382.7
|
178.8
|
8.1%
|
||
|
Individuals’ deposits
|
1,537.6
|
1,667.1
|
129.5
|
8.4%
|
|
Loans
|
1,870.5
|
2,131.4
|
260.9
|
13.9%
|
||
|
Housing loans
|
642.8
|
713.0
|
70.2
|
10.9%
|
|
|
|
|
|
|
||
Sales of investmenttrustsand
pension-type insurance
|
65.3
|
86.2
|
20.9
|
31.9%
|
||
|
Investment trusts
|
50.3
|
68.2
|
17.9
|
35.6%
|
|
|
Pension-type insurance
|
15.0
|
18.0
|
3.0
|
19.3%
|
|
|
|
|
|
|
||
Balance of investment trusts under KUBC’s
account
|
114.4
|
164.4
|
50.0
|
43.6%
|
||
