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Japan Post Bank fiscal Q1 net income slips 0.6% YOY

Japan Post Bank Co. Ltd. reported a 0.6% year-over-year decline in net income for the fiscal first quarter ended June 30.

The bank on Aug. 9 reported a fiscal first-quarter consolidated net income attributable to owners of ¥77.83 billion, down from ¥78.35 billion in the prior-year quarter. EPS inched down to ¥20.76 from ¥20.89.

Interest income for the quarter fell to ¥335.59 billion from ¥357.30 billion. Fees and commission grew to ¥40.94 billion from ¥34.83 billion.

Ordinary income declined to ¥463.83 billion from ¥470.51 billion, while net ordinary income fell to ¥105.72 billion from ¥106.67 billion. Ordinary expenses fell to ¥358.11 billion from ¥363.84 billion.

As of June 30, the bank's consolidated capital adequacy ratio stood at 15.59%, down from 15.80% at March 31.

As of Aug. 8, US$1 was equivalent to ¥106.13.