Aozora Bank's Q3 profit soars 90.2% to ¥90.2b

Thanks to the improvement in net interest income.

Japan-headquartered Aozora Bank saw its third quarter (Q3 2024) profit attributable to owners of parent nearly double (90.2%) year-on-year (YoY) to $0.58b (¥90.2b).

Aozora Bank's net interest income increased by $0.04b (¥6.4b) YoY to $0.14b (¥21.2b), with $0.02b (¥3.7b) attributed to domestic growth driven by ALM operations amid higher yen interest rates.

The bank’s higher earnings for the quarter were also attributed to the improvement in domestic net interest income mainly due to higher yen interest rates and increased loan outstandings; and a decrease in foreign currency funding costs mainly due to the previous year’s disposition of foreign bonds.

For the period, the bank registered $0.12 (¥19) per common share.

($1.00 = ¥155.10)