Top Japanese banks warn of uncertainties as profit seen slowing

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Two of Japan’s biggest banks said they expect profit growth to slow down this year, striking a cautious tone on increasing global economic uncertainties.

The nation’s second-largest lender, Sumitomo Mitsui Financial Group Inc., is forecasting a 3.3% climb in net profit in the current fiscal year after posting a 38% jump the previous year. Mizuho Financial Group Inc., the third-biggest bank, is projecting a 1.7% rise after a 13% increase.

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