The Bank of Iwate, Ltd. Reports Consolidated Earnings Results for the Year Ended March 31, 2017
November 07, 2017 at 02:39 pm IST
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The Bank of Iwate, Ltd. reported consolidated earnings results for the year ended March 31, 2017. For the year, total income was JPY 51,131 million compared to JPY 46,604 million for the same period a year ago. Income before income tax was JPY 12,659 million compared to JPY 11,120 million for the same period a year ago. Net income was JPY 10,160 million compared to JPY 7,107 million for the same period a year ago. Net income attributable to owners of parent was JPY 10,152 million compared to JPY 7,107 million for the same period a year ago. Diluted net income per share was JPY 509.82 compared to JPY 359.19 for the same period a year ago. Net cash provided by operating activities was JPY 120,622 million compared to JPY 44,565 million for the same period a year ago. Acquisition of premises and equipment was JPY 1,689 million against JPY 1,221 million a year ago. Acquisition of intangible assets was JPY 523 million against JPY 452 million a year ago. Total income increase was mainly attributable to decrease in interest income and gain on sale of bonds and stocks, despite and increase in other operating income attributable to the consolidation of the three equity method affiliates of the Bank.
Bank of Iwate Ltd is a Japan-based company mainly engaged in the banking business. The Company operates through two business segments. The Banking segment provides deposit business, lending business, domestic exchange business, foreign exchange business, commodity securities trading business, securities investment business, trust business, corporate bond trust and registration business, and other incidental business. It is also engaged in the cash settlement and consolidation operations. The Leasing Business segment is engaged in leasing and computer contract processing business. It also provides credit card services and credit guarantee services.
THE BANK OF IWATE, LTD. 