Resona Holdings ( (RSNHF) ) has released its Q3 earnings. Here is a breakdown of the information Resona Holdings presented to its investors.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Resona Holdings, Inc. operates as a financial services company in Japan, primarily engaged in banking, trust asset management, credit card administration, and leasing businesses. The company reported its third-quarter results for fiscal year 2024, showcasing significant growth in net income and operating profits compared to the same period last year. Net income attributable to owners of the parent increased by 48.2% to 169.1 billion yen, while ordinary profits rose by 49.1% to 237.5 billion yen. This growth was driven by increased net interest income from domestic loans and deposits, as well as higher fee income from corporate solutions and real estate businesses.
Key financial highlights include a substantial increase in gross operating profit, which climbed by 51.4 billion yen to reach 515.2 billion yen. Credit costs significantly improved, contributing to the enhanced profitability. The company’s total assets grew by over 1 trillion yen, reaching 77.2 trillion yen by the end of December 2024, although total net assets slightly decreased due to changes in unrealized gains on available-for-sale securities.
Resona’s domestic operations reported increases in loan-to-deposit spreads, reflecting favorable interest rate conditions, and a decline in non-performing loans, indicating an improvement in asset quality. The company maintained its dividend forecast, reflecting confidence in its ongoing financial stability and operational strength.
Looking ahead, Resona Holdings remains focused on capitalizing on its diversified financial services portfolio and addressing economic uncertainties. The management’s outlook for the full fiscal year remains unchanged, with a target net income of 175 billion yen and continued emphasis on enhancing shareholder value through strategic growth initiatives.
