Mizuho Financial Group’s net income up 18.2% to $4.3b in 9M FY2023

Its gross profits and credit costs rose.

Mizuho Financial Group’s net income rose 18.2% year-on-year to approximately $4.32b (JPY642.3b) in the third quarter ending 31 December of the current fiscal year.

With this, Mizuho has reached its target income of JPY640b for the FY2023 fiscal year with one more quarter remaining.

The bank saw a large increase in its consolidated gross profits and net gains related to exchange traded funds (ETFs), which Mizuho attributed to steady growth in Customer  Groups and Markets, in addition to other factors such as yen depreciation.

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Credit-related costs also rose, however, which Mizuho said was “in line with [the] external business environment outlook.”