The wholesale business at the Japanese investment bank has posted pre-tax income of JPY76.9 billion (US$730m) in Q3 FY20/21 ended in December 2020, up 17% quarter-on-quarter (QoQ) or 78% year-on-year (YoY), as derivatives drive equities revenues growth.

The bank’s quarterly income, which reached the fifth highest level in 19 years, led to accumulated pre-tax income of JPY230.2 billion in the first nine months of FY20/21, a 1.8x increase YoY. This translates to 65.9% of the total generated from wholesale, retail and asset management. Net revenue rose by one percent to JPY223.1 billion QoQ or up 20% YoY – 84% from global markets and 16% from investment banking. The bank led by CEO Kentaro Okuda (pictured) expanded its wealth managem

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