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Chiba Bank fiscal full-year net income drops 2.7%

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Chiba Bank fiscal full-year net income drops 2.7%

Chiba BankLtd. said its net income attributable to shareholders for thefiscal year ended March 31 dropped 2.7% to ¥55.44 billion from ¥57.03 billionin the prior fiscal year.

EPS fell to ¥67.03 from ¥68.02.

Ordinary income rose 1.9% year over year to ¥228.69 billionfrom ¥224.266 billion, while ordinary profit for the fiscal year increased 1.5%to ¥85.56 billion from ¥84.24 billion in the fiscal year ended March 31, 2015.

The company raised its fiscal-year dividend to ¥14 yen pershare from ¥13 yen per share in the prior fiscal year.

Chiba Bank expects its net income for the fiscal year endingMarch 31, 2017, to drop 11% to ¥52 billion. However, it plans to raise itsdividend for the fiscal year by 7.1% to ¥15 per share.

As of May 10, US$1 wasequivalent to ¥109.05.