Investing.com– Mizuho (NYSE:) Financial Group Inc. aims to achieve net profit of 1 trillion yen ($6.4 billion) over the next three to four years, according to the bank’s CEO Masahiro Kihara.
The CEO made the statement on Wednesday in an interview with Bloomberg Television.
The Japanese bank’s growth will be driven by various sectors, including domestic corporate banking, asset and wealth management, and global corporate and investment banking. The bank previously forecast a record annual net profit of 820 billion yen for the current fiscal year ending in March. This suggests that the bank’s new revenue target would require growth above 20%.
Kihara expressed optimism about the changing economic landscape in Japan, saying, “The dynamics in Japan are changing dramatically.” He made the comment during an interview in Davos, Switzerland, where he is attending the World Economic Forum.
The CEO also reflects the confidence of other banking industry executives, suggesting that U.S. President Donald Trump’s policies would benefit the banking industry. Mizuho plans to increase its revenue from the United States to 30%, up from 25% currently. Kihara anticipates an increase in mergers and acquisitions. In November, the bank announced its first share buyback since 2008.
“President Trump is very pro-business,” Kihara said. “We have a significant business in the United States. We have strengthened our capabilities in the areas of investment banking, this will also be a good opportunity for us.”
Mizuho has been making efforts to grow its overseas revenue, particularly focusing on investment banking businesses in the United States. As part of this strategy, it acquired the New York company Green Hill (NYSE:) & Co. in 2023.
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