Mizuho Financial Group of Japan reports a 79% increase in first-quarter profit.

Mizuho Financial Group, Japan’s third-largest lender by assets, reported a 79 percent increase in half-year net profit in a year hampered by technological issues at its retail banking subsidiary.

The bank earned 385.7 billion yen ($3.38 billion) from April to September, up from 215.5 billion yen in the same time last year.

Mizuho raised its profit prediction for the fiscal year ending March 31 to 530 billion yen from 510 billion yen previously. In comparison, the average of 11 analyst projections obtained was 558.9 billion yen.

Story by : Norvisi Mawunyegah