Mizuho Financial Group announced a significant surge in fourth-quarter profit on Wednesday, surpassing expectations, driven by robust performance in its overseas business and increased demand for loans domestically. The financial giant also projected higher profits for the current financial year, signaling optimism amid evolving market conditions.

In the January-March fourth quarter, Mizuho reported a group net profit of 36.7 billion yen ($235 million), marking a substantial increase from 12.3 billion yen recorded in the same period a year earlier. This notable growth in profit outpaced analysts' expectations, which had anticipated a quarterly profit of 30.8 billion yen, based on the average full-year estimate by 11 analysts polled by LSEG.

Looking ahead, Mizuho Financial Group forecasted a full-year profit of 750 billion yen for the current financial year, reflecting confidence in its ability to capitalize on emerging opportunities and navigate potential challenges. This projected profit represents a notable increase from the full-year profit of 678.99 billion yen achieved in the previous fiscal year.

Mizuho's strong financial performance underscores its resilience and strategic initiatives in a dynamic market environment. As one of Japan's leading financial institutions, Mizuho remains well-positioned to leverage its diverse business portfolio and capitalize on growth opportunities both domestically and internationally.

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