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Mizuho fourth quarter profit more than doubles, beats estimates

Mizuho fourth quarter profit more than doubles, beats estimates

FILE PHOTO: Mizuho Financial Group logo is seen at the company's headquarters in Tokyo, Japan August 20, 2018. REUTERS/Toru Hanai

TOKYO: Japan's Mizuho Financial Group Inc reported on Friday its net profit more than doubled for the fourth quarter, during which it suffered some system failures and booked a trading loss related to the collapse of U.S. investment fund Archegos.

Mizuho, Japan's third-largest lender by assets, said profit for the March 31-ending quarter came in at 116.6 billion yen (US$1.07 billion). That compared with an average profit estimate of 79.95 billion yen from two analysts surveyed by Refinitiv.

(US$1 = 109.4400 yen)

(Reporting by Takashi Umekawa; Editing by Muralikumar Anantharaman)

Source: Reuters

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