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Chiba Bank's 9-month net profit rises YOY

Chiba Bank Ltd. posted a 5.8% year-over-year rise in net profit for the nine months ended Dec. 31, 2017.

The Japanese bank said in a Feb. 7 release that profit attributable to owners of the parent company went up to ¥46.47 billion from ¥43.90 billion in the prior-year period. EPS for the nine months was ¥58.54, up from ¥54.20 year over year.

Ordinary profit climbed to ¥66.77 billion from ¥63.87 billion, while ordinary income inched up to ¥177.91 billion from ¥172.79 billion.

Interest income for the period grew to ¥105.22 billion from ¥103.30 billion. Fees and commissions also rose to ¥38.65 billion from ¥35.62 billion.

Ordinary expenses came to ¥111.14 billion, up from ¥108.92 billion in the prior-year period.

At end-2017, the bank's nonconsolidated nonperforming loan ratio stood at 1.25%, down from 1.34% as of Sept. 30, 2017, and 1.50% in the year-ago period.

Chiba Bank's consolidated total capital ratio stood at 13.45% as of Dec. 31, 2017, up slightly from 13.36% at end-September 2017. Its Tier 1 and common equity Tier 1 capital ratios each clocked in at 12.51% at end-December, 2017, up from 12.43% each as of Sept. 30, 2017.

The lender added that it will repurchase up to 10 million of its own shares for up to ¥7.0 billion between Feb. 8 and March 23. The stock represents 1.26% of the company's issued shares.

The bank also plans to retire 10 million treasury shares Feb. 28.

As of Feb. 6, US$1 was equivalent to ¥109.14.