SMFG 0001193125-24-257918 6-K Filing: Nov 14, 2024

UNITED STATES SECURITIES ANDEXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OFFOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2024

Commission File Number 001-34919

SUMITOMO MITSUI FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-0005, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form<br>40-F:	Form 20-F ☒	Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Sumitomo Mitsui Financial Group, Inc.
By:	/s/ Jun Okahashi
	Name:	Jun Okahashi
	Title:	Executive Officer & General Manager,<br><br><br>Financial Accounting Dept

Date: November 14, 2024

Financial Results

for the six months

ended September 30, 2024

- Supplementary Information -

Sumitomo Mitsui Financial Group, Inc.

Table of contents

Page

1.	Income analysis	Consolidated	Non-consolidated	…	1
2.	Interest spread (domestic)		Non-consolidated	…	3
3.	Gains (losses) on securities		Non-consolidated	…	3
4.	Unrealized gains (losses) on securities	Consolidated	Non-consolidated	…	4
5.	Balance of securities, classified by maturity		Non-consolidated	…	5
6.	Notional amount of interest rate swaps (under deferred hedge accounting), classified by remaining maturity		Non-consolidated	…	5
7.	Employee retirement benefits	Consolidated	Non-consolidated	…	6
8.	Classification based on self-assessment and the Banking Act and the Reconstruction Act, and write-offs / reserves		Non-consolidated	…	7
9.	Reserve for possible loan losses and reserve ratio	Consolidated	Non-consolidated	…	8
10.	Non-performing loans (NPLs) based on the Banking Act and the Reconstruction Act, and coverage	Consolidated	Non-consolidated	…	9
11.	Results of off-balancing of NPLs		Non-consolidated	…	10
12.	Loan portfolio, classified by industry		Non-consolidated	…	11
13.	Loan portfolio, classified by country		Non-consolidated	…	13
14.	Balance of deposits and loans		Non-consolidated	…	14
15.	Deferred tax assets and liabilities		Non-consolidated	…	15
16.	Capital ratio (BIS guidelines)	Consolidated	Non-consolidated	…	16
17.	ROE	Consolidated		…	16
18.	Earnings targets and dividends forecast for FY3/2025	Consolidated	Non-consolidated	…	17
Reference: Interim Financial statements of SMBC			Non-consolidated	…	18
Notes:	1.	Consolidated: Consolidated figures of Sumitomo Mitsui Financial Group, Inc. (“the Company”)
---	---	---
	2.	Non-consolidated: Non-consolidated figures of Sumitomo Mitsui Banking Corporation (“SMBC”)

This document contains “forward-looking statements” (as defined in the U.S. Private Securities Litigation Reform Act of 1995), regarding the intent, belief or current expectations of us and our managements with respect to our future financial condition and results of operations. In many cases but not all, these statements contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “risk,” “project,” “should,” “seek,” “target,” “will” and similar expressions. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those expressed in or implied by such forward-looking statements contained or deemed to be contained herein. The risks and uncertainties which may affect future performance include: deterioration of Japanese and global economic conditions and financial markets; our ability to successfully implement our business strategy through our subsidiaries, affiliates and alliance partners; exposure to new risks as we expand the scope of our business; incurrence of significant credit-related costs; and declines in the value of our securities portfolio. Given these and other risks and uncertainties, you should not place undue reliance on forward-looking statements, which speak only as of the date of this document. We undertake no obligation to update or revise any forward-looking statements.

Please refer to our most recent disclosure documents such as our annual report on Form 20-F and other documents submitted to the U.S. Securities and Exchange Commission, as well as our earnings press releases, for a more detailed description of the risks and uncertainties that may affect our financial conditions and our operating results, and investors’ decisions.

Sumitomo Mitsui Financial Group

Income analysis

Consolidated						(Millions of yen)
				Six months ended<br><br><br>Sep. 30, 2024		Six months ended<br><br><br>Sep. 30, 2023
					Change
Consolidated gross profit			1	2,045,257	227,932	1,817,325
	Net interest income		2	1,126,397	238,645	887,752
	Trust fees		3	4,499	715	3,784
	Net fees and commissions		4	754,617	69,653	684,964
	Net trading income		5	304,647	369,758	(65,111)
	Net other operating income		6	(144,904)	(450,838)	305,934
General and administrative expenses			7	(1,172,747)	(90,549)	(1,082,198)
Equity in gains (losses) of affiliates			8	45,724	9,939	35,785
Consolidated net business profit			9	918,234	147,322	770,912
Total credit cost			10	(83,905)	16,430	(100,335)
	Credit costs		11	(104,115)	4,289	(108,404)
		Write-off of loans	12	(87,845)	(3,472)	(84,373)
		Provision for reserve for possible loan losses	13	-	10,332	(10,332)
		Others	14	(16,270)	(2,573)	(13,697)
	Gains on reversal of reserve for possible loan<br>losses		15	11,396	11,396	-
	Recoveries of<br>written-off claims		16	8,814	745	8,069
Gains (losses) on stocks			17	294,223	247,409	46,814
Other income (expenses)			18	(98,080)	(89,922)	(8,158)
Ordinary profit			19	1,030,472	321,240	709,232
Extraordinary gains (losses)			20	(3,072)	(226)	(2,846)
	Gains (losses) on disposal of fixed assets		21	(2,108)	(276)	(1,832)
	Losses on impairment of fixed assets		22	(298)	435	(733)
Income before income taxes			23	1,027,400	321,014	706,386
Income taxes - current			24	(264,819)	(87,913)	(176,906)
Income taxes - deferred			25	(32,753)	(31,916)	(837)
Profit			26	729,827	201,185	528,642
Profit attributable to non-controlling interests			27	(4,655)	(2,479)	(2,176)
Profit attributable to owners of parent			28	725,172	198,707	526,465
Notes:	1. Amounts less than 1 million yen<br>are rounded down. Figures in parenthesis indicate the amount of loss or decrease.
	2. Consolidated gross profit = (Interest income - Interest expenses) + Trust<br>fees + (Fees and commissions - Fees and commissions payments)<br> <br>+ (Trading<br>income - Trading losses) + (Other operating income - Other operating expenses)
	Number of consolidated subsidiaries and affiliates
				Sep. 30, 2024		Mar. 31, 2024
					Change
	Consolidated subsidiaries		29	174	(1)	175
	Equity<br>method affiliates		30	291	(26)	317

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Sumitomo Mitsui Financial Group

SMBC non-consolidated						(Millions of yen)
				Six months ended<br><br><br>Sep. 30, 2024		Six months ended<br><br><br>Sep. 30, 2023
					Change
Gross banking profit			1	1,161,825	266,395	895,430
	Gross domestic profit		2	500,346	92,472	407,874
		Net interest income	3	409,139	111,319	297,820
		Trust fees	4	1,552	184	1,368
		Net fees and commissions	5	113,675	1,813	111,862
		Net trading income	6	949	(350)	1,299
		Net other operating income	7	(24,970)	(20,494)	(4,476)
		Gains (losses) on bonds	8	(26,408)	(23,210)	(3,198)
	Gross international profit		9	661,479	173,924	487,555
		Net interest income	10	454,316	224,388	229,928
		Net fees and commissions	11	142,410	22,699	119,711
		Net trading income	12	182,559	365,589	(183,030)
		Net other operating income	13	(117,807)	(438,753)	320,946
		Gains (losses) on bonds	14	33,206	30,212	2,994
Expenses (excluding non-recurring losses)			15	(519,847)	(38,278)	(481,569)
Overhead ratio			16	44.7%	(9.1%)	53.8%
	Personnel expenses		17	(224,877)	(19,465)	(205,412)
	Non-personnel expenses		18	(260,809)	(13,803)	(247,006)
	Taxes		19	(34,160)	(5,010)	(29,150)
Banking profit (before provision for general reserve for possible loan losses)			20	641,978	228,118	413,860
Gains (losses) on bonds			21	6,797	7,001	(204)
	Core banking profit (20-21)		22	635,180	221,116	414,064
		excluding gains (losses) on cancellation of investment<br>trusts	23	577,297	167,923	409,374
Provision for general reserve for possible loan losses			24	-	-	-
Banking profit			25	641,978	228,118	413,860
Non-recurring gains (losses)			26	322,690	285,513	37,177
	Credit costs		27	(4,232)	16,619	(20,851)
	Gains on reversal of reserve for possible loan losses		28	23,573	12,974	10,599
	Recoveries of written-off claims		29	264	225	39
	Gains (losses) on stocks		30	276,121	235,485	40,636
	Other non-recurring gains (losses)		31	26,963	20,212	6,751
Ordinary profit			32	964,668	513,631	451,037
Extraordinary gains (losses)			33	(2,112)	(482)	(1,630)
	Gains (losses) on disposal of fixed assets		34	(1,892)	(894)	(998)
	Losses on impairment of fixed assets		35	(219)	412	(631)
Income before income taxes			36	962,556	513,149	449,407
Income taxes - current			37	(205,121)	(77,537)	(127,584)
Income taxes - deferred			38	(29,309)	(53,216)	23,907
Net income			39	728,125	382,395	345,730
Total credit cost (24+27+28+29)			40	19,605	29,816	(10,211)
	Provision for general reserve for possible loan losses		41	41,737	12,924	28,813
	Write-off of loans		42	(108)	19,869	(19,977)
	Provision for specific reserve for possible loan losses		43	(11,321)	5,912	(17,233)
	Losses on sales of delinquent loans		44	(4,124)	(3,251)	(873)
	Provision for loan loss reserve for specific overseas countries		45	(6,843)	(5,864)	(979)
	Recoveries of written-off claims		46	264	225	39

Note: Amounts less than 1 million yen are rounded down. Figures in parenthesis indicate the amount of loss or decrease.

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Sumitomo Mitsui Financial Group

Interest spread (domestic)

SMBC non-consolidated							(%)
					Six months<br><br><br>ended<br><br><br>Sep. 30, 2024
			Three months ended<br>Jun. 30, 2024	Three months ended<br><br><br>Sep. 30, 2024		Change	Six months ended<br><br><br>Sep. 30, 2023
Yield on interest earning assets (A)					0.98	0.28	0.70
	Interest earned on loans and bills discounted<br>(C)		0.92	0.97	0.94	0.12	0.82
	Interest<br>earned on securities				1.58	0.75	0.83
Total cost of funding<br>(including expenses) (B)					0.49	0.07	0.42
	Cost of interest bearing liabilities				0.06	0.04	0.02
		Interest paid on deposits, etc. (D)	0.01	0.05	0.03	0.03	0.00
		Interest paid on other liabilities			0.28	0.11	0.17
	Expense<br>ratio				0.42	0.02	0.40
Overall interest spread (A) -<br>(B)					0.49	0.22	0.27
	Interest<br>spread (C) - (D)		0.91	0.92	0.91	0.09	0.82

	Reference: After deducting loans to the Japanese government, etc.
	Interest earned on loans and bills discounted (E)		0.94	0.99	0.97	0.13	0.84
	Interest spread (E) - (D)		0.93	0.94	0.94	0.10	0.84
3. Gains (losses) on securities
SMBC<br>non-consolidated							(Millions of yen)
					Six monthsended<br><br><br>Sep. 30, 2024		Six months<br>ended<br><br><br>Sep. 30, 2023
						Change
Gains (losses) on bonds					6,797	7,001	(204)
	Gains on sales				35,358	24,957	10,401
	Losses on sales				(25,987)	(19,437)	(6,550)
	Gains on redemption				0	0	0
	Losses on redemption				(2,573)	1,482	(4,055)
	Losses on<br>devaluation				-	-	-

Gains (losses) on stocks					276,121	235,485	40,636
	Gains on sales				290,904	204,022	86,882
	Losses on sales				(212)	2,536	(2,748)
	Losses on<br>devaluation				(14,570)	28,926	(43,496)

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Sumitomo Mitsui Financial Group

Unrealized gains (losses) on securities

Consolidated											(Millions of yen)
					Sep. 30, 2024					Mar. 31, 2024
					Balance sheet<br><br><br>amount	Net unrealized gains (losses)				Balance sheet<br><br><br>amount	Net unrealized<br><br><br>gains (losses)<br> <br>(b)
						(a)	(a) - (b)	Gains	Losses
	Held-to-maturity securities			1	259,403	(2,437)	(1,032)	4	2,442	234,095	(1,405)
	Other securities			2	37,824,062	3,029,509	(363,586)	3,663,572	634,063	36,132,798	3,393,095
		Stocks		3	3,398,155	2,210,252	(626,765)	2,218,561	8,308	4,119,760	2,837,017
		Bonds		4	12,250,275	(93,454)	6,687	7,861	101,316	10,760,383	(100,141)
			Japanese government bonds	5	9,302,656	(44,197)	10,627	238	44,436	7,547,376	(54,824)
		Others		6	22,175,631	912,712	256,494	1,437,150	524,438	21,252,655	656,218
			Foreign bonds	7	17,607,564	(402,369)	288,210	103,041	505,410	16,836,216	(690,579)
	Other money held in trust			8	517	-	-	-	-	315	-
	Total			9	38,083,983	3,027,071	(364,618)	3,663,577	636,505	36,367,210	3,391,689
		Stocks		10	3,398,155	2,210,252	(626,765)	2,218,561	8,308	4,119,760	2,837,017
		Bonds		11	12,509,678	(95,892)	5,655	7,865	103,758	10,994,479	(101,547)
		Others		12	22,176,149	912,712	256,494	1,437,150	524,438	21,252,970	656,218
SMBC non-consolidated											(Millions of yen)
					Sep. 30, 2024					Mar. 31, 2024
					Balance sheet<br><br><br>amount	Net unrealized gains (losses)				Balance sheet<br><br><br>amount	Net unrealized<br><br><br>gains (losses)<br> <br>(b)
						(a)	(a) - (b)	Gains	Losses
	Held-to-maturity securities			13	22,300	(572)	(94)	-	572	22,300	(478)
	Stocks of subsidiaries and affiliates			14	4,949,781	(85,292)	(3,584)	1,585	86,878	4,945,212	(81,708)
	Other securities			15	32,036,613	2,226,699	(301,042)	2,842,333	615,633	30,599,803	2,527,741
		Stocks		16	3,062,642	2,087,449	(571,558)	2,095,440	7,990	3,709,291	2,659,007
		Bonds		17	12,436,701	(91,272)	6,977	7,877	99,149	10,943,768	(98,249)
			Japanese government bonds	18	9,302,656	(44,197)	10,627	238	44,436	7,547,376	(54,824)
		Others		19	16,537,269	230,522	263,537	739,015	508,493	15,946,743	(33,015)
			Foreign bonds	20	13,085,178	(420,753)	241,469	69,016	489,770	12,426,880	(662,222)
	Total			21	37,008,695	2,140,835	(304,720)	2,843,918	703,083	35,567,315	2,445,555
		Stocks		22	3,356,996	2,089,035	(572,599)	2,097,026	7,990	4,004,093	2,661,634
		Bonds		23	12,459,001	(91,844)	6,884	7,877	99,721	10,966,068	(98,728)
		Others		24	21,192,696	143,644	260,994	739,015	595,371	20,597,152	(117,350)
Notes:	1.	The figures above include negotiable certificates of deposit in “Cash and due from banks” and beneficiary claims on loan trust in “Monetary claims bought.”
---	---	---
	2.	Net unrealized gains (losses) are valuated at market prices as of the balance sheet date.
	3.	Other securities and Other money held in trust are measured at market prices. Unrealized gains (losses) indicate the difference between the acquisition costs (or amortized costs) and the balance sheet amounts.

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Sumitomo Mitsui Financial Group

Balance of securities, classified by maturity

Balance of other securities with maturities and bonds of held-to-maturity

SMBC non-consolidated																	(Billions of yen)
		Sep. 30, 2024										Mar. 31, 2024
		1 year<br>or less		More than<br>1 year to<br>5 years		More than<br>5 years to<br>10 years		More than<br>10 years		Total		1 year<br>or less		More than<br>1 year to<br>5 years		More than<br>5 years to<br>10 years		More than<br>10 years		Total
Bonds			8,678.7		2,286.2		914.1		580.0		12,459.0		6,501.1		2,577.7		1,167.7		719.6	10,966.1
	Japanese government <br>bonds		7,919.3		1,071.3		112.8		199.3		9,302.7		5,793.3		1,322.7		119.5		311.8	7,547.4
	Japanese local government bonds		119.8		252.2		541.2		4.4		917.7		71.4		264.7		700.8		9.8	1,046.7
	Japanese short-term bonds		299.9		-		-		-		299.9		319.9		-		-		-	319.9
	Japanese corporate<br>bonds		339.7		962.7		260.2		376.2		1,938.8		316.5		990.2		347.3		398.0	2,052.1
Others			3,304.2		4,292.1		1,941.0		4,347.4		13,884.7		3,213.2		4,248.1		1,570.5		4,044.6	13,076.4
Total			11,982.8		6,578.3		2,855.2		4,927.4		26,343.7		9,714.3		6,825.8		2,738.2		4,764.2	24,042.5

Notional amount of interest rate swaps (under deferred hedge accounting), classified by remaining maturity

SMBC non-consolidated		(Billions of yen)
		Sep. 30, 2024				Mar. 31, 2024
---	---	---	---	---	---	---	---	---	---
		1 year<br>or less	More than 1 year to 5 years	More than 5 years	Total	1 year<br>or less	More than 1 year to 5 years	More than 5 years	Total
	Receivable fixed rate<br>/ payable floating rate	6,707.3	24,809.0	7,087.1	38,603.3	4,285.0	24,030.3	5,612.4	33,927.7
	Receivable floating rate / <br>payable fixed rate	1,036.6	6,916.4	12,191.3	20,144.3	1,223.6	7,761.0	10,739.1	19,723.7
Total		7,743.8	31,725.5	19,278.3	58,747.6	5,508.7	31,791.3	16,351.5	53,651.4

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Sumitomo Mitsui Financial Group

Employee retirement benefits

Consolidated

(1) Projected benefit obligation

					(Millions of yen)
			At the beginning<br><br><br>of FY3/2025		At the beginning of FY3/2024
				Change
Fair value of plan assets		(A)	1,821,219	156,946	1,664,273
Projected benefit obligation		(B)	944,690	(50,378)	995,068
Net surplus (deficit)		(A-B)	876,528	207,323	669,205
	Net defined benefit asset		913,791	209,137	704,654
	Net defined benefit liability		37,263	1,814	35,449

Measurements of defined benefit plans (before tax effect deduction)			(409,772)	(217,588)	(192,184)
	Unrecognized prior service cost (deductible from<br>the obligation)		(11,798)	2,390	(14,188)
	Unrecognized net<br>actuarial gain (loss)		(397,974)	(219,978)	(177,996)
(2) Retirement benefit expenses
					(Millions of yen)
			Six months ended<br><br><br>Sep. 30, 2024		Six months ended<br><br><br>Sep. 30, 2023
				Change
Retirement benefit expenses			(13,483)	(8,463)	(5,020)
SMBC non-consolidated
(1) Projected benefit obligation
					(Millions of yen)
			At the beginning<br><br><br>of FY3/2025		At the beginning<br> <br>of<br>FY3/2024
				Change
Projected benefit obligation		(A)	793,191	(57,780)	850,971
	<Discount rate>		<1.26%>	<0.36%>	<0.90%>
	Fair value of plan assets	(B)	1,689,470	145,111	1,544,359
	Reserve for employee retirement benefits	(C)	-	-	-
	Prepaid pension cost	(D)	479,688	(16,640)	496,328
	Unrecognized prior service cost (deductible from the obligation)	(E)	(13,698)	2,651	(16,349)
	Unrecognized net actuarial<br>gain (loss)	(A-B-C+D-E)	(402,892)	(222,182)	(180,710)
(2) Retirement benefit expenses
					(Millions of yen)
			Six months ended<br><br><br>Sep. 30, 2024		Six months ended<br><br><br>Sep. 30, 2023
				Change
Retirement benefit expenses			(24,761)	(8,718)	(16,043)
	Service cost		8,375	(911)	9,286
	Interest cost on projected benefit obligation		4,997	1,168	3,829
	Expected returns on plan assets		(22,852)	(3,227)	(19,625)
	Amortization of unrecognized prior service cost		(1,325)	-	(1,325)
	Amortization of unrecognized net actuarial gain<br>(loss)		(18,869)	(5,951)	(12,918)
	Others		4,913	203	4,710

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Sumitomo Mitsui Financial Group

Classification based on self-assessment and the Banking Act and the Reconstruction Act, and write-offs / reserves

LOGO

*1	Includes direct reduction of 203.4 billion yen.
*2	Includes reserve for assets that are not subject to disclosure based on the Banking Act and the Reconstruction Act.<br><br><br>(Bankrupt/Effectively bankrupt borrowers: 3.0 billion yen, Potentially bankrupt borrowers: 6.0 billion yen)
*3	Reserve ratios for claims on “Bankrupt borrowers”, “Effectively bankrupt borrowers”, “Potentially bankrupt borrowers”, “Substandard borrowers” and “Borrowers requiring caution (including<br>Substandard borrowers)” are the proportion of the reserve for possible loan losses to each category’s total claims, excluding the portion secured by collateral or guarantees, etc.
*4	Reserve ratios for claims on “Normal borrowers” and “Borrowers requiring caution (excluding claims to Substandard<br>borrowers)” are the proportion of the reserve for possible loan losses to the respective claims of each category.<br> <br>The reserve ratio for unsecured<br>claims on “Borrowers requiring caution (excluding claims to Substandard borrowers)” is shown in [ ].
*5	Includes Specific reserve for “Borrowers requiring caution” totaling 0.0 billion yen.
*6	The proportion of the reserve to the claims, excluding the portion secured by collateral or guarantees, etc.

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Sumitomo Mitsui Financial Group

Reserve for possible loan losses and reserve ratio

Consolidated						(Millions of yen, %)
		Sep. 30, 2024			Mar. 31, 2024
		(a)	Reserve Ratio<br><br><br>(b)	(a) - (c)	(c)	Reserve Ratio<br><br><br>(d)
Reserve for possible loan losses		796,404	88.83	(21,174)	817,578	79.91
	General reserve	575,126		(20,855)	595,981
	Specific reserve	195,772		(6,709)	202,481
	Loan loss reserve for specific overseas countries	25,505		6,390	19,115
	Amount of direct reduction	257,369		6,528	250,841
SMBC non-consolidated						(Millions of yen, %)
		Sep. 30, 2024			Mar. 31, 2024
		(a)	Reserve Ratio<br><br><br>(b)	(a) - (c)	(c)	Reserve Ratio<br><br><br>(d)
Reserve for possible loan losses		502,403	96.66	(20,982)	523,385	83.08
	General reserve	370,346		(26,460)	396,806
	Specific reserve	108,796		(1,365)	110,161
	Loan loss reserve for specific overseas countries	23,261		6,844	16,417
	Amount of direct reduction	203,429		(5,483)	208,912

Note: Reserve ratio (Reserve for possible loan losses / NPLs based on the Banking Act and the Reconstruction Act (Excluding Normal Assets)) is after direct reduction.

- 8 -

Sumitomo Mitsui Financial Group

10. Non-performing loans (NPLs) based on the Banking Act and the Reconstruction Act, and coverage

Consolidated					(Millions of yen, %)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
	Bankrupt and quasi-bankrupt loans		83,884	(76,302)	160,186
	Doubtful loans		509,609	(53,017)	562,626
	Substandard loans		303,029	2,707	300,322
		Past due loans (3 months or<br>more)	53,868	(4,497)	58,365
		Restructured loans	249,161	7,204	241,957
Total (A)			896,522	(126,613)	1,023,135
	Normal assets		122,729,691	(2,301,939)	125,031,630
	Grand total (B)		123,626,214	(2,428,551)	126,054,765
NPL ratio (A/B)			0.73	(0.08)	0.81
					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Total coverage (C)			565,187	(131,621)	696,808
	Reserve for possible loan losses (D)		205,654	(15,319)	220,973
	Amount recoverable by guarantees, collateral and<br>others (E)		359,532	(116,303)	475,835
					(%)
Coverage ratio (C) / (A)			63.04	(5.07)	68.11
Coverage ratio calculated with total reserve for possible loan losses included in the numerator			128.94	2.52	126.42
					(%)
Reserve ratio to unsecured assets (D) / (A - E)			38.30	(2.08)	40.38
Reserve ratio calculated with total reserve for possible loan losses included in the numerator			148.31	(1.07)	149.38
SMBC non-consolidated					(Millions of yen, %)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
	Bankrupt and quasi-bankrupt loans		61,342	(69,837)	131,179
	Doubtful loans		339,312	(38,554)	377,866
	Substandard loans		119,134	(1,812)	120,946
		Past due loans (3 months or<br>more)	21,090	(595)	21,685
		Restructured loans	98,043	(1,217)	99,260
Total (A)			519,789	(110,203)	629,992
	Normal assets		116,731,354	(2,963,537)	119,694,891
	Grand total (B)		117,251,144	(3,073,739)	120,324,883
NPL ratio (A/B)			0.44	(0.08)	0.52
					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Total coverage (C)			449,250	(114,750)	564,000
	Reserve for possible loan losses (D)		137,003	(459)	137,462
	Amount<br>recoverable by guarantees, collateral and others (E)		312,247	(114,291)	426,538
					(%)
Coverage ratio (C) / (A)			86.43	(3.10)	89.53
Coverage ratio calculated with total reserve for possible loan losses included in the numerator			156.73	5.95	150.78
					(%)
Reserve ratio to unsecured assets (D) / (A - E)			66.01	(1.55)	67.56
Reserve ratio calculated with total reserve for possible loan losses included in the numerator			242.07	(15.18)	257.25

Note: Reserve for possible loan losses is sum of general reserve for substandard loans and specific reserve.

- 9 -

Sumitomo Mitsui Financial Group

Results of off-balancing of NPLs

SMBC non-consolidated

(Billions of yen)


					Sep. 30, 2024<br><br><br>(a)	(a) - (b)	NPLs<br><br><br>newly classified<br><br><br>during the<br><br><br>six months ended<br><br><br>Sep. 30, 2024	Amount of<br><br> <br>off-balancing	Mar. 31, 2024<br><br><br>(b)
	Bankrupt and quasi-bankrupt loans				61.3	(69.9)	4.8	(74.6)	131.2
	Doubtful loans				339.3	(38.6)	73.5	(112.0)	377.9
	Total				400.7	(108.3)	78.3	(186.7)	509.0
Result of measures connected<br>to off-balancing (*1)					46.7				116.6

			Breakdown of <br><br><br>off-balancing<br><br><br>by factor (*2)		Disposition by borrowers’ liquidation			(0.3)
					Reconstructive disposition			(0.2)
					Improvement in debtors’ performance due to reconstructive disposition			-
					Loan sales to market			(3.9)
					Direct write-offs			6.8
					Others			(189.2)
						Collection / repayment, etc.		(162.1)
						Improvement in debtors’ performance		(27.0)
					Total			(186.7)
*1		The measures connected to off-balancing are legal reorganizations and other similar measures, corporate splits to good companies and bad companies, partial direct write-offs of<br>retail exposure to individuals and small- and medium-sized enterprises, and trusts to RCC for the purpose of revitalization which is scheduled to be off-balanced before<br>the maturity.
---	---	---	---	---
*2		1.		“Disposition by borrowers’ liquidation” refers to abandonment or write-off of loans involved in bankruptcy liquidation proceedings (bankruptcy or special<br>liquidations).
		2.		“Reconstructive disposition” refers to abandonment of loans involved in reconstructive bankruptcy proceedings (corporate reorganization and civil rehabilitation), debt forgiveness involved in special mediation or other<br>types of civil mediation, or debt forgiveness for restructuring involved in private reorganization.

- 10 -

Sumitomo Mitsui Financial Group

Loan portfolio, classified by industry

SMBC non-consolidated

(1) Loans and bills discounted, classified by industry

(Millions of yen, %)

		Sep. 30, 2024			Mar. 31, 2024
		(a)	Ratio	(a) - (b)	(b)	Ratio
Domestic offices<br>(excluding Japan offshore banking accounts)		63,688,136	100.0	(806,784)	64,494,920	100.0
	Manufacturing	9,729,991	15.3	52,591	9,677,400	15.0
	Agriculture, forestry, fisheries and mining	212,641	0.3	(19,973)	232,614	0.4
	Construction	1,011,611	1.6	49,234	962,377	1.5
	Transportation, communications and public enterprises	5,770,412	9.1	(92,569)	5,862,981	9.1
	Wholesale and retail	4,979,203	7.8	(146,779)	5,125,982	8.0
	Finance and insurance	7,586,944	11.9	(403,896)	7,990,840	12.4
	Real estate	11,551,697	18.1	437,507	11,114,190	17.2
	Goods rental and leasing	2,463,042	3.9	(3,936)	2,466,978	3.8
	Various services	5,026,233	7.9	(277,010)	5,303,243	8.2
	Municipalities	430,345	0.7	(172,317)	602,662	0.9
	Others	14,926,012	23.4	(229,636)	15,155,648	23.5
Overseas offices and Japan offshore banking accounts		35,749,840	100.0	(879,952)	36,629,792	100.0
	Public sector	497,683	1.4	(39,408)	537,091	1.5
	Financial institutions	3,244,515	9.1	179,969	3,064,546	8.4
	Commerce and industry	30,253,812	84.6	(812,433)	31,066,245	84.8
	Others	1,753,829	4.9	(208,079)	1,961,908	5.3
Total		99,437,977	-	(1,686,735)	101,124,712	-

- 11 -

Sumitomo Mitsui Financial Group

(2) NPLs based on the Banking Act and the Reconstruction Act, classified by industry, and reserve ratio

(Millions of yen, %)

			Sep. 30, 2024			Mar. 31, 2024
			(a)	Reserve <br> <br>ratio	(a) - (b)	(b)
Domestic offices<br><br><br>(excluding Japan offshore banking accounts)			301,091	65.9	(116,331)	417,422
	Manufacturing		86,132	66.4	(10,280)	96,412
	Agriculture, forestry, fisheries and mining		558	97.1	(399)	957
	Construction		7,569	55.1	813	6,756
	Transportation, communications and public enterprises		16,563	58.6	(3,101)	19,664
	Wholesale and retail		62,600	65.9	(7,327)	69,927
	Finance and insurance		178	63.2	(5,048)	5,226
	Real estate		21,848	61.4	(9,157)	31,005
	Goods rental and leasing		280	54.1	22	258
	Various services		76,553	52.2	(79,866)	156,419
	Municipalities		-	-	-	-
	Others		28,804	100.0	(1,989)	30,793
Overseas offices and Japan offshore banking accounts			218,698	66.1	6,129	212,569
	Public sector		-	-	-	-
	Financial institutions		-	-	-	-
	Commerce and industry		214,284	68.0	6,248	208,036
	Others		4,413	27.2	(120)	4,533
Total			519,789	66.0	(110,203)	629,992
Note:		Reserve ratio
---	---	---
		= (Reserve for possible loan losses) / (Assets excluding amounts recoverable due to guarantees, collateral and others) X 100
		Reserve for possible loan losses is sum of general reserve for substandard loans and specific reserve.

(3) Consumer loans outstanding

					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Consumer loans			12,037,056	61,363	11,975,693
	Housing loans		11,262,270	48,276	11,213,994
		Self-residential purpose	9,431,701	93,912	9,337,789
	Other consumer loans		774,785	13,087	761,698
(4) Loans to small- and<br>medium-sized enterprises, etc.
					(Millions of yen, %)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Outstanding balance			37,499,101	(581,191)	38,080,292
Ratio to total loans			58.9	(0.1)	59.0

Note: Outstanding balance includes loans to individuals.

- 12 -

Sumitomo Mitsui Financial Group

Loan portfolio, classified by country

SMBC non-consolidated

(1) Loans outstanding, classified by major domicile

(Millions of yen, %)

		Sep. 30, 2024			Mar. 31, 2024
		(a)	Ratio	(a) - (b)	(b)	Ratio
Asia		7,840,306	22.7	(524,378)	8,364,684	23.6
	Indonesia	205,940	0.6	(52,665)	258,605	0.7
	Thailand	1,171,367	3.4	55,241	1,116,126	3.1
	Korea	400,998	1.2	(66,736)	467,734	1.3
	Hong Kong	1,217,658	3.5	(200,178)	1,417,836	4.0
	China	89,133	0.3	(20,653)	109,786	0.3
	Taiwan	598,306	1.7	63,495	534,811	1.5
	Singapore	2,144,218	6.2	(254,023)	2,398,241	6.8
	India	1,202,422	3.5	81,404	1,121,018	3.2
	Others	810,264	2.3	(130,263)	940,527	2.7
Oceania		2,911,691	8.4	168,144	2,743,547	7.7
	Australia	2,808,432	8.1	152,355	2,656,077	7.5
	Others	103,259	0.3	15,789	87,470	0.2
North America		13,791,595	40.0	(53,561)	13,845,156	39.1
	United States	10,781,583	31.3	(230,256)	11,011,839	31.1
	Others	3,010,012	8.7	176,695	2,833,317	8.0
Central and South America		2,184,487	6.3	(198,805)	2,383,292	6.7
	Brazil	407,649	1.2	(6,761)	414,410	1.1
	Panama	402,895	1.1	(15,904)	418,799	1.2
	Others	1,373,943	4.0	(176,140)	1,550,083	4.4
Western Europe		4,642,685	13.5	(380,911)	5,023,596	14.2
	United Kingdom	1,225,717	3.6	(25,294)	1,251,011	3.6
	Ireland	457,755	1.3	(47,840)	505,595	1.4
	Netherlands	618,607	1.8	(166,207)	784,814	2.2
	Others	2,340,606	6.8	(141,570)	2,482,176	7.0
Eastern Europe		225,046	0.7	(12,499)	237,545	0.7
	Russia	165,005	0.5	(14,336)	179,341	0.5
	Others	60,041	0.2	1,837	58,204	0.2
Others		2,898,292	8.4	80,774	2,817,518	8.0
Total		34,494,102	100.0	(921,236)	35,415,338	100.0

Note: Classified by domicile of debtors.

(2) NPLs based on the Banking Act and the Reconstruction Act, classified by domicile

(Millions of yen, %)

			Sep. 30, 2024				Mar. 31, 2024
			(a)		Reserve <br>Ratio	(a) - (b)	(b)
Overseas offices and<br><br><br>Japan offshore banking accounts			218,698		66.1	6,129	212,569
	Asia		95,227		69.3	(14,649)	109,876
	Oceania		-		-	(234)	234
	North America		34,066		52.2	(10,303)	44,369
	Central and South America		19,970		100.0	(4,729)	24,699
	Western Europe		43,882		71.1	36,907	6,975
	Eastern Europe		18,166		33.4	(422)	18,588
	Others		7,385		44.9	(440)	7,825
Notes:		1.		Reserve ratio
---	---	---	---	---
				= (Reserve for possible loan losses)/(Assets excluding amounts recoverable due to guarantees, collateral and others) X 100<br><br><br>Reserve for possible loan losses is sum of general reserve for substandard loans and specific reserve.
		2.		Classified by domicile of debtors.

- 13 -

Sumitomo Mitsui Financial Group

Balance of deposits and loans

SMBC non-consolidated

(1) Average balance of deposits and loans

					(Millions of yen)
			Six months ended		Six months ended
			Sep. 30, 2024<br><br><br>(a)	(a) - (b)	Sep. 30, 2023<br><br><br>(b)
Deposits			155,369,312	2,736,663	152,632,649
	Domestic units		123,352,930	3,623,196	119,729,734

Loans			101,465,003	5,927,249	95,537,754
	Domestic units		60,100,183	3,276,605	56,823,578
Note: Deposits do not include negotiable certificates of<br>deposit.<br> <br><br> <br>(2) Balance of deposits and loans, classified by type of depositor
					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Deposits			152,477,918	(1,016,519)	153,494,437
	Domestic deposits<br>(excluding Japan offshore banking accounts)		127,630,618	(37,513)	127,668,131
		Individuals	60,428,935	621,339	59,807,596
		Corporates	67,201,683	(658,852)	67,860,535

Loans			99,437,977	(1,686,735)	101,124,712
	Domestic offices<br>(excluding Japan offshore banking accounts)		63,688,136	(806,784)	64,494,920
	Overseas offices and Japan offshore banking accounts		35,749,840	(879,952)	36,629,792
Note: Deposits do not include negotiable certificates of<br>deposit.<br> <br><br> <br>Reference:
					(Billions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Balance of investment trusts			4,545.5	93.0	4,452.5
	Balance to individuals		3,633.4	69.1	3,564.3
Note: Balance of investment trusts is recognized on a<br>contract basis and measured according to each fund’s net asset balance at the period-end.
					(Billions of yen)
			Six months ended		Six months ended
			Sep. 30, 2024<br>(a)	(a) - (b)	Sep. 30, 2023<br><br><br>(b)
Sales of investment trusts to individuals			386.4	25.8	360.6
Sales of pension-type insurance to individuals			35.0	(18.7)	53.7

- 14 -

Sumitomo Mitsui Financial Group

Deferred tax assets and liabilities

							(Billions of yen)
SMBC non-consolidated					Sep. 30, 2024	Change from<br> Mar. 31, 2024	Mar. 31, 2024
(a)	Total deferred tax assets		(b-c)	1	385.0	2.1	382.9
	(b)	Subtotal of deferred tax assets		2	493.9	7.1	486.8
		Reserve for possible loan losses and<br><br><br>write-off of loans		3	217.7	(8.1)	225.8
		Taxable write-off of securities		4	87.8	(1.6)	89.4
		Others		5	188.4	16.8	171.6
	(c) Valuation<br>allowance			6	108.9	5.0	103.9
(d) Total deferred tax liabilities				7	728.6	(84.1)	812.7
	Net unrealized gains<br>on other securities			8	628.3	(91.5)	719.8
	Others			9	100.3	7.4	92.9
Net deferred tax assets			(a-d)	10	(343.6)	86.2	(429.8)
	Amount corresponding<br>to net deferred gains (losses) on hedges included in line 5 and net unrealized gains (losses) on other securities included in line 8			11	(567.1)	117.2	(684.3)
	Others			12	223.5	(31.0)	254.5
SMBC recognized deferred tax assets pursuant to paragraph 19 (classification 2) of the “Implementation Guidance<br>on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26). This is due to the fact that SMBC has generated steady taxable income, excluding amounts arising from extraordinary factors, in all of the current and past three fiscal years.
---

Reference: Income of final tax return before deducting operating loss carryforwards for the last 3 years

				(Billions of yen)
	FY3/2022	FY3/2023	FY3/2024	1H, FY3/2025
Income of final tax return<br><br><br>before deducting operating loss carryforwards	655.5	621.2	1,104.6	699.4
Note: The figure for 1H, FY3/2025 was estimated in interim closing.

- 15 -

Sumitomo Mitsui Financial Group

Capital ratio (BIS guidelines)

(Basel III basis)

Consolidated			(Billions of yen, %)
	Sep. 30, 2024 [Preliminary]		Mar. 31, 2024
	(a)	(a) - (b)	(b)
(1) Total capital ratio (4) / (7)	15.99	0.70	15.29
(2) Tier 1 capital ratio (5) / (7)	14.83	0.50	14.33
(3) Common equity Tier 1 capital ratio (6) / (7)	13.18	0.27	12.91
(4) Total capital	14,477.2	279.4	14,197.9
(5) Tier 1 capital	13,420.9	109.4	13,311.6
(6) Common equity Tier 1 capital	11,930.3	(62.3)	11,992.6
(7) Risk weighted assets	90,490.9	(2,357.7)	92,848.6
(8) Required capital (7) X 8%	7,239.3	(188.6)	7,427.9
(9) Leverage Ratio	5.46	0.19	5.27
SMBC consolidated
(1) Total capital ratio	17.08	0.97	16.11
(2) Tier 1 capital ratio	15.54	0.74	14.80
(3) Common equity Tier 1 capital ratio	12.85	0.43	12.42
(4) Leverage Ratio	5.36	0.17	5.19
SMBC non-consolidated
(1) Total capital ratio	15.69	1.42	14.27
(2) Tier 1 capital ratio	13.90	1.04	12.86
(3) Common equity Tier 1 capital ratio	10.97	0.62	10.35
(4) Leverage Ratio	4.76	0.13	4.63
17. ROE
Consolidated			(%)
	Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
	(a)	(a) - (b)	(b)
ROE (Tokyo Stock Exchange ‘s standard)	9.8	1.8	8.0
ROE<br>(denominator: Total stockholders’ equity)	13.3	3.3	10.0

Note:

ROE<br>(denominator: Total stockholders’ equity)	=		(Profit attributable to owners of parent) x (Number of days in a year (365 days)) /<br>(Number of days in the period (183 days))	X 100
			{(Total stockholders’ equity at the beginning of the period) + (Total stockholders’ equity at the end of the period)} / 2

- 16 -

Sumitomo Mitsui Financial Group

Earnings targets and dividends forecast for FY3/2025

(1) Earnings targets

Consolidated		(Billions of yen)
	FY3/2025	FY3/2024<br> <br>Result
Consolidated net business profit	1,620.0	1,560.2
Total credit cost	(260.0)	(274.0)
Ordinary profit	1,710.0	1,466.1
Profit attributable to owners of parent	1,160.0	962.9
SMBC non-consolidated		(Billions of yen)
	FY3/2025<br> <br>****	FY3/2024<br> <br>Result
Banking profit (before provision for<br>general reserve for possible loan losses)	1,020.0	901.3
Total credit cost	(45.0)	(96.3)
Ordinary profit	1,420.0	1,040.5
Net income	1,040.0	762.6
(2) Dividends forecast
			(Yen)
	FY3/2025		FY3/2024

	Interim	Annual	Result
Dividend<br>per share for common stock	60	120	90
Note: On October 1, 2024, the Company effected a three for one<br>split of its common stock on the record date of September 30, 2024.
The amount of dividend per share for common stock<br>for the fiscal year ended March 31, 2024, as well as the amounts of interim and annual dividend per share for common stock for the fiscal year ending March 31, 2025 take into account the stock split.
Reference:			(Billions of yen)
	FY3/2025		FY3/2024

	Interim	Annual	Result
Total<br>dividend	234.9	466.9	357.5

- 17 -

Sumitomo Mitsui Financial Group

Reference: Financial Statements of SMBC

Condensed balance sheet

SMBC non-consolidated

			(Millions of yen)
	Sep. 30, 2024		Mar. 31, 2024
	(a)	(a) - (b)	(b)
Assets
Cash and due from banks	67,204,506	(5,456,698)	72,661,204
Call loans	3,129,773	(1,175,730)	4,305,503
Receivables under resale<br>agreements	6,975,419	5,194,065	1,781,354
Receivables under securities borrowing<br>transactions	1,328,873	(1,209,921)	2,538,794
Monetary claims bought	2,201,711	(168,389)	2,370,100
Trading assets	2,788,769	86,584	2,702,185
Securities	36,230,788	1,564,183	34,666,605
Loans and bills discounted	99,437,977	(1,686,735)	101,124,712
Foreign exchanges	2,240,302	298,448	1,941,854
Other assets	7,027,822	(1,851,428)	8,879,250
Tangible fixed assets	741,287	(5,319)	746,606
Intangible fixed assets	364,917	22,943	341,974
Prepaid pension cost	521,157	41,469	479,688
Customers’ liabilities for acceptances<br>and guarantees	14,146,007	(1,566,353)	15,712,360
Reserve for possible loan losses	(502,403)	20,982	(523,385)
Reserve<br>for possible losses on investments	(11,064)	(4,434)	(6,630)
Total assets	243,825,845	(5,896,334)	249,722,179

Note: Amounts less than 1 million yen are rounded down.

- 18 -

Sumitomo Mitsui Financial Group

(Millions of yen)

	Sep. 30, 2024		Mar. 31, 2024
	(a)	(a) - (b)	(b)
Liabilities
Deposits	152,477,918	(1,016,519)	153,494,437
Negotiable certificates of deposit	13,611,494	(1,215,283)	14,826,777
Call money	833,848	(194,287)	1,028,135
Payables under repurchase<br>agreements	13,476,614	1,119,036	12,357,578
Payables under securities lending<br>transactions	572,674	(96,751)	669,425
Commercial paper	1,090,515	(459,000)	1,549,515
Trading liabilities	1,869,748	46,509	1,823,239
Borrowed money	24,423,483	(695,778)	25,119,261
Foreign exchanges	2,260,320	(647,372)	2,907,692
Bonds	378,631	(93,530)	472,161
Due to trust account	1,505,674	(304,562)	1,810,236
Other liabilities	8,498,261	(928,855)	9,427,116
Reserve for employee bonuses	11,731	(2,612)	14,343
Reserve for executive bonuses	-	(1,344)	1,344
Reserve for point service program	1,860	279	1,581
Reserve for reimbursement of<br>deposits	6,191	(2,092)	8,283
Deferred tax liabilities	343,595	(86,165)	429,760
Deferred tax liabilities for land<br>revaluation	27,025	(291)	27,316
Acceptances and guarantees	14,146,007	(1,566,353)	15,712,360
Totalliabilities	235,535,596	(6,144,972)	241,680,568
Net assets
Capital stock	1,770,996	-	1,770,996
Capital surplus	1,774,554	-	1,774,554
Capital reserve	1,771,043	-	1,771,043
Other capital surplus	3,510	-	3,510
Retained earnings	3,903,251	406,551	3,496,700
Other retained earnings	3,903,251	406,551	3,496,700
Voluntary reserve for<br>retirement allowances	1,656	-	1,656
Voluntary reserve	219,845	-	219,845
Retained earnings brought<br>forward	3,681,749	406,551	3,275,199
Treasury stock	(210,003)	-	(210,003)
Total stockholders’ equity	7,238,799	406,551	6,832,248
Net unrealized gains (losses) on other<br>securities	1,593,376	(209,934)	1,803,310
Net deferred gains (losses) on<br>hedges	(566,101)	52,591	(618,692)
Land revaluation excess	24,175	(569)	24,744
Total valuation and translation<br>adjustments	1,051,450	(157,912)	1,209,362
Total net assets	8,290,249	248,638	8,041,611
Totalliabilities and net assets	243,825,845	(5,896,334)	249,722,179

Note: Amounts less than 1 million yen are rounded down.

- 19 -

Sumitomo Mitsui Financial Group

Condensed income statement

SMBC non-consolidated

	(Millions of yen)
		****	Six months endedSep. 30, 2024<br><br><br>(a)	** <br> <br>**							Six months ended<br>Sep. 30, 2023
---	---	---	---	---	---	---	---	---	---	---	---	---
							(a) - (b)				(b)
Ordinary income			3,752,081				671,276				3,080,805
Interest income			2,826,923				538,504				2,288,419
Interest on loans and discounts			1,529,575				181,658				1,347,917
Interest and dividends on securities			549,777				285,627				264,150
Trust fees			1,590				168				1,422
Fees and commissions			363,250				23,502				339,748
Trading income			184,172				180,432				3,740
Other operating income			41,024				(302,510)				343,534
Other income			335,120				231,180				103,940
Ordinary expenses			2,787,413				157,646				2,629,767
Interest expenses			1,963,468				202,798				1,760,670
Interest on deposits			665,307				1,688				663,619
Fees and commissions payments			107,202				(1,025)				108,227
Trading losses			663				(184,808)				185,471
Other operating expenses			183,801				156,736				27,065
General and administrative expenses			503,781				32,041				471,740
Other expenses			28,495				(48,097)				76,592
Ordinary profit			964,668				513,631				451,037
Extraordinary gains			1,481				1,437				44
Extraordinary losses			3,593				1,919				1,674
Income before income taxes			962,556				513,149				449,407
Income taxes - current			205,121				77,537				127,584
Income taxes - deferred			29,309				53,216				(23,907)
Total income taxes			234,430				130,753				103,677
Net income			728,125				382,395				345,730

Note: Amounts less than 1 million yen are rounded down.

- 20 -

Sumitomo Mitsui Financial Group

Statement of changes in net assets

SMBC non-consolidated

Six months ended September 30, 2024																						(Millions of yen)
				Capital surplus						Retained earnings
										Other retained earnings
	Capital<br>stock			Capital<br>reserve			Other capital<br>surplus			Voluntary<br>reserve for<br>retirement<br> allowances			Voluntary<br><br><br>reserve			Retained<br><br><br>earnings<br> <br>brought<br><br><br>forward			Treasury<br><br><br>stock			Total<br>stockholders’<br><br><br>equity
Balance<br><br><br>at the beginning of the period		1,770,996			1,771,043			3,510			1,656			219,845			3,275,199			(210,003	)	6,832,248
Changes in the period
Cash dividends																	(322,145	)				(322,145)
Net income																	728,125					728,125
Reversal of land revaluation excess																	569					569
Net changes in items other than stockholders’ equity in the<br>period
Net changes in the period																	406,550					406,550
Balance<br><br><br>at the end of the period		1,770,996			1,771,043			3,510			1,656			219,845			3,681,749			(210,003	)	7,238,799
											(Millions of yen)
	Valuation and translation adjustments
	Net<br>unrealized<br>gains<br>(losses) on<br>other<br>securities			Net deferred<br>gains<br>(losses) on<br>hedges			Land<br>revaluation<br>excess			Total<br>valuation<br>and<br>translation<br>adjustments			Total net<br>assets
Balance<br><br><br>at the beginning of the period		1,803,310			(618,692	)		24,744			1,209,362			8,041,611
Changes in the<br>period
Cash dividends														(322,145	)
Net income														728,125
Reversal of land revaluation excess														569
Net changes in items other than stockholders’ equity in the<br>period		(209,934	)		52,591			(569	)		(157,912	)		(157,912	)
Net changes in the<br>period		(209,934	)		52,591			(569	)		(157,912	)		248,637
Balance<br><br><br>at the end of the period		1,593,376			(566,101	)		24,175			1,051,450			8,290,249

Note: Amounts less than 1 million yen are rounded down.

- 21 -

SMFG 6-K

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