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Mizuho Financial sees 9 month profits triple

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The profit gains were helped by a decline in bad loan reserves, or money set aside to compensate for potential debt turning sour as the financial health of borrower companies improved, the bank said.

Group operating revenue however dropped 2.1 percent to 2.087 trillion yen from 2.134 trillion yen.The bank left its net profit forecast unchanged for the full fiscal year through March at 500 billion yen.

 

Copyright AFP (Agence France-Presse), 2011