TOKYO, July 30 (Reuters) - Sumitomo Mitsui Financial Group (SMFG) on Monday reported a 6 percent drop in quarterly net profit, weighed down by bigger tax bills.
Japan’s third-largest lender by assets said net profit came in at 227.1 billion yen ($2.04 billion) for the first quarter ended June, down from 241.5 billion yen a year earlier.
For the year ending in March, SMFG reiterated its forecast for a net profit of 700 billion yen, down 4.7 percent from a year ago. The compares with an average estimate of 717.8 billion yen from 14 analysts polled by Thomson Reuters I/B/E/S. ($1 = 111.1200 yen) (Reporting by Taiga Uranaka; Editing by Himani Sarkar)