TOKYO: Sumitomo Mitsui Financial Group Inc (SMFG) reported a 20% decline in quarterly profit as gains in the value of stock holdings paled in comparison with the year before when prices rose after government promises of economic growth.
Japan's No 3 bank by assets profited, like its rivals, from a stock market surge after Prime Minister Shinzo Abe took office at the end of 2012 pledging aggressive growth measures.
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