TYO:8522

The Bank of Nagoya Raises Full-Year Earnings and Year-End Dividend Forecasts

The Bank of Nagoya (TYO:8522) raised its consolidated earnings forecast for the fiscal year ended March 31 to 20.2 billion yen from the previously announced 19.4 billion yen.Basic earnings per share estimates were increased to 410.64 yen from 394.33 yen, while ordinary income was upgraded to 124.4 billion yen from 122.4 billion yen.The upward revision was primarily driven by higher-than-expected net interest income on a non-consolidated basis, mainly due to an increase in interest and dividends on securities, which also lifted the consolidated forecasts.In a separate disclosure, the bank raised its year-end dividend forecast to 120 yen per share from 50 yen previously, citing its financial results, payout ratio, and other factors.