Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

SMFG Sumitomo Mitsui Financial Group

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This document contains “forward-looking statements” (as defined in the U.S. Private Securities Litigation Reform Act of 1995), regarding the intent, belief or current expectations of us and our managements with respect to our future financial condition and results of operations. In many cases but not all, these statements contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “risk,” “project,” “should,” “seek,” “target,” “will” and similar expressions. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those expressed in or implied by such forward-looking statements contained or deemed to be contained herein. The risks and uncertainties which may affect future performance include: deterioration of Japanese and global economic conditions and financial markets; our ability to successfully implement our business strategy through our subsidiaries, affiliates and alliance partners; exposure to new risks as we expand the scope of our business; incurrence of significant credit-related costs; and declines in the value of our securities portfolio. Given these and other risks and uncertainties, you should not place undue reliance on forward-looking statements, which speak only as of the date of this document. We undertake no obligation to update or revise any forward-looking statements.

Please refer to our most recent disclosure documents such as our annual report on Form 20-F and other documents submitted to the U.S. Securities and Exchange Commission, as well as our earnings press releases, for a more detailed description of the risks and uncertainties that may affect our financial conditions and our operating results, and investors’ decisions.


Consolidated						(Millions of yen)
				Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
					Change

Consolidated gross profit			1	2,045,257	227,932	1,817,325

	Net interest income		2	1,126,397	238,645	887,752

	Trust fees		3	4,499	715	3,784

	Net fees and commissions		4	754,617	69,653	684,964

	Net trading income		5	304,647	369,758	(65,111)

	Net other operating income		6	(144,904)	(450,838)	305,934

General and administrative expenses			7	(1,172,747)	(90,549)	(1,082,198)

Equity in gains (losses) of affiliates			8	45,724	9,939	35,785


Consolidated net business profit			9	918,234	147,322	770,912


Total credit cost			10	(83,905)	16,430	(100,335)

	Credit costs		11	(104,115)	4,289	(108,404)

		Write-off of loans	12	(87,845)	(3,472)	(84,373)

		Provision for reserve for possible loan losses	13	-	10,332	(10,332)

		Others	14	(16,270)	(2,573)	(13,697)

	Gains on reversal of reserve for possible loan losses		15	11,396	11,396	-

	Recoveries of written-off claims		16	8,814	745	8,069

Gains (losses) on stocks			17	294,223	247,409	46,814

Other income (expenses)			18	(98,080)	(89,922)	(8,158)


Ordinary profit			19	1,030,472	321,240	709,232


Extraordinary gains (losses)			20	(3,072)	(226)	(2,846)

	Gains (losses) on disposal of fixed assets		21	(2,108)	(276)	(1,832)

	Losses on impairment of fixed assets		22	(298)	435	(733)

Income before income taxes			23	1,027,400	321,014	706,386

Income taxes - current			24	(264,819)	(87,913)	(176,906)

Income taxes - deferred			25	(32,753)	(31,916)	(837)

Profit			26	729,827	201,185	528,642

Profit attributable to non-controlling interests			27	(4,655)	(2,479)	(2,176)

Profit attributable to owners of parent			28	725,172	198,707	526,465

Notes:	1. Amounts less than 1 million yen are rounded down. Figures in parenthesis indicate the amount of loss or decrease.
	2. Consolidated gross profit = (Interest income - Interest expenses) + Trust fees + (Fees and commissions - Fees and commissions payments) + (Trading income - Trading losses) + (Other operating income - Other operating expenses)

	Number of consolidated subsidiaries and affiliates
				Sep. 30, 2024		Mar. 31, 2024
					Change
	Consolidated subsidiaries		29	174	(1)	175
	Equity method affiliates		30	291	(26)	317

- 1 -


SMBC non-consolidated						(Millions of yen)
				Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
				Six months ended Sep. 30, 2024	Change	Six months ended Sep. 30, 2023
Gross banking profit			1	1,161,825	266,395	895,430
	Gross domestic profit		2	500,346	92,472	407,874
		Net interest income	3	409,139	111,319	297,820
		Trust fees	4	1,552	184	1,368
		Net fees and commissions	5	113,675	1,813	111,862
		Net trading income	6	949	(350)	1,299
		Net other operating income	7	(24,970)	(20,494)	(4,476)

		Gains (losses) on bonds	8	(26,408)	(23,210)	(3,198)
	Gross international profit		9	661,479	173,924	487,555
		Net interest income	10	454,316	224,388	229,928
		Net fees and commissions	11	142,410	22,699	119,711
		Net trading income	12	182,559	365,589	(183,030)
		Net other operating income	13	(117,807)	(438,753)	320,946

		Gains (losses) on bonds	14	33,206	30,212	2,994
Expenses (excluding non-recurring losses)			15	(519,847)	(38,278)	(481,569)

Overhead ratio			16	44.7%	(9.1%)	53.8%
	Personnel expenses		17	(224,877)	(19,465)	(205,412)
	Non-personnel expenses		18	(260,809)	(13,803)	(247,006)
	Taxes		19	(34,160)	(5,010)	(29,150)

Banking profit (before provision for general reserve for possible loan losses)			20	641,978	228,118	413,860

Gains (losses) on bonds			21	6,797	7,001	(204)
	Core banking profit (20-21)		22	635,180	221,116	414,064

		excluding gains (losses) on cancellation of investment trusts	23	577,297	167,923	409,374

Provision for general reserve for possible loan losses			24	-	-	-
Banking profit			25	641,978	228,118	413,860
Non-recurring gains (losses)			26	322,690	285,513	37,177
	Credit costs		27	(4,232)	16,619	(20,851)
	Gains on reversal of reserve for possible loan losses		28	23,573	12,974	10,599
	Recoveries of written-off claims		29	264	225	39
	Gains (losses) on stocks		30	276,121	235,485	40,636
	Other non-recurring gains (losses)		31	26,963	20,212	6,751

Ordinary profit			32	964,668	513,631	451,037

Extraordinary gains (losses)			33	(2,112)	(482)	(1,630)
	Gains (losses) on disposal of fixed assets		34	(1,892)	(894)	(998)
	Losses on impairment of fixed assets		35	(219)	412	(631)
Income before income taxes			36	962,556	513,149	449,407
Income taxes - current			37	(205,121)	(77,537)	(127,584)
Income taxes - deferred			38	(29,309)	(53,216)	23,907

Net income			39	728,125	382,395	345,730


Total credit cost (24+27+28+29)			40	19,605	29,816	(10,211)
	Provision for general reserve for possible loan losses		41	41,737	12,924	28,813
	Write-off of loans		42	(108)	19,869	(19,977)
	Provision for specific reserve for possible loan losses		43	(11,321)	5,912	(17,233)
	Losses on sales of delinquent loans		44	(4,124)	(3,251)	(873)
	Provision for loan loss reserve for specific overseas countries		45	(6,843)	(5,864)	(979)
	Recoveries of written-off claims		46	264	225	39

Note: Amounts less than 1 million yen are rounded down. Figures in parenthesis indicate the amount of loss or decrease.

- 2 -


SMBC non-consolidated							(%)
					Six months ended Sep. 30, 2024
			Three months ended Jun. 30, 2024	Three months ended Sep. 30, 2024	Six months ended Sep. 30, 2024	Change	Six months ended Sep. 30, 2023
Yield on interest earning assets (A)					0.98	0.28	0.70
	Interest earned on loans and bills discounted (C)		0.92	0.97	0.94	0.12	0.82
	Interest earned on securities				1.58	0.75	0.83
Total cost of funding (including expenses) (B)					0.49	0.07	0.42
	Cost of interest bearing liabilities				0.06	0.04	0.02
		Interest paid on deposits, etc. (D)	0.01	0.05	0.03	0.03	0.00
		Interest paid on other liabilities			0.28	0.11	0.17
	Expense ratio				0.42	0.02	0.40
Overall interest spread (A) - (B)					0.49	0.22	0.27
	Interest spread (C) - (D)		0.91	0.92	0.91	0.09	0.82

	Reference: After deducting loans to the Japanese government, etc.
	Interest earned on loans and bills discounted (E)		0.94	0.99	0.97	0.13	0.84
	Interest spread (E) - (D)		0.93	0.94	0.94	0.10	0.84

3. Gains (losses) on securities

SMBC non-consolidated							(Millions of yen)
					Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
					Six months ended Sep. 30, 2024	Change	Six months ended Sep. 30, 2023
Gains (losses) on bonds					6,797	7,001	(204)
	Gains on sales				35,358	24,957	10,401
	Losses on sales				(25,987)	(19,437)	(6,550)
	Gains on redemption				0	0	0
	Losses on redemption				(2,573)	1,482	(4,055)
	Losses on devaluation				-	-	-

Gains (losses) on stocks					276,121	235,485	40,636
	Gains on sales				290,904	204,022	86,882
	Losses on sales				(212)	2,536	(2,748)
	Losses on devaluation				(14,570)	28,926	(43,496)

- 3 -


Consolidated											(Millions of yen)
					Sep. 30, 2024					Mar. 31, 2024
					Balance sheet amount	Net unrealized gains (losses)				Balance sheet amount	Net unrealized gains (losses) (b)

						(a)	(a) - (b)	Gains	Losses

	Held-to-maturity securities			1	259,403	(2,437)	(1,032)	4	2,442	234,095	(1,405)

	Other securities			2	37,824,062	3,029,509	(363,586)	3,663,572	634,063	36,132,798	3,393,095

		Stocks		3	3,398,155	2,210,252	(626,765)	2,218,561	8,308	4,119,760	2,837,017

		Bonds		4	12,250,275	(93,454)	6,687	7,861	101,316	10,760,383	(100,141)

			Japanese government bonds	5	9,302,656	(44,197)	10,627	238	44,436	7,547,376	(54,824)

		Others		6	22,175,631	912,712	256,494	1,437,150	524,438	21,252,655	656,218

			Foreign bonds	7	17,607,564	(402,369)	288,210	103,041	505,410	16,836,216	(690,579)

	Other money held in trust			8	517	-	-	-	-	315	-

	Total			9	38,083,983	3,027,071	(364,618)	3,663,577	636,505	36,367,210	3,391,689

		Stocks		10	3,398,155	2,210,252	(626,765)	2,218,561	8,308	4,119,760	2,837,017

		Bonds		11	12,509,678	(95,892)	5,655	7,865	103,758	10,994,479	(101,547)

		Others		12	22,176,149	912,712	256,494	1,437,150	524,438	21,252,970	656,218

SMBC non-consolidated											(Millions of yen)
					Sep. 30, 2024					Mar. 31, 2024
					Balance sheet amount	Net unrealized gains (losses)				Balance sheet amount	Net unrealized gains (losses) (b)

						(a)	(a) - (b)	Gains	Losses

	Held-to-maturity securities			13	22,300	(572)	(94)	-	572	22,300	(478)

	Stocks of subsidiaries and affiliates			14	4,949,781	(85,292)	(3,584)	1,585	86,878	4,945,212	(81,708)

	Other securities			15	32,036,613	2,226,699	(301,042)	2,842,333	615,633	30,599,803	2,527,741

		Stocks		16	3,062,642	2,087,449	(571,558)	2,095,440	7,990	3,709,291	2,659,007

		Bonds		17	12,436,701	(91,272)	6,977	7,877	99,149	10,943,768	(98,249)

			Japanese government bonds	18	9,302,656	(44,197)	10,627	238	44,436	7,547,376	(54,824)

		Others		19	16,537,269	230,522	263,537	739,015	508,493	15,946,743	(33,015)

			Foreign bonds	20	13,085,178	(420,753)	241,469	69,016	489,770	12,426,880	(662,222)

	Total			21	37,008,695	2,140,835	(304,720)	2,843,918	703,083	35,567,315	2,445,555

		Stocks		22	3,356,996	2,089,035	(572,599)	2,097,026	7,990	4,004,093	2,661,634

		Bonds		23	12,459,001	(91,844)	6,884	7,877	99,721	10,966,068	(98,728)

		Others		24	21,192,696	143,644	260,994	739,015	595,371	20,597,152	(117,350)


Notes:	1.	The figures above include negotiable certificates of deposit in “Cash and due from banks” and beneficiary claims on loan trust in “Monetary claims bought.”

	2.	Net unrealized gains (losses) are valuated at market prices as of the balance sheet date.

	3.	Other securities and Other money held in trust are measured at market prices. Unrealized gains (losses) indicate the difference between the acquisition costs (or amortized costs) and the balance sheet amounts.

- 4 -


SMBC non-consolidated																	(Billions of yen)
		Sep. 30, 2024										Mar. 31, 2024

		1 year or less		More than 1 year to 5 years		More than 5 years to 10 years		More than 10 years		Total		1 year or less		More than 1 year to 5 years		More than 5 years to 10 years		More than 10 years		Total

Bonds			8,678.7		2,286.2		914.1		580.0		12,459.0		6,501.1		2,577.7		1,167.7		719.6	10,966.1
	Japanese government bonds		7,919.3		1,071.3		112.8		199.3		9,302.7		5,793.3		1,322.7		119.5		311.8	7,547.4
	Japanese local government bonds		119.8		252.2		541.2		4.4		917.7		71.4		264.7		700.8		9.8	1,046.7
	Japanese short-term bonds		299.9		-		-		-		299.9		319.9		-		-		-	319.9
	Japanese corporate bonds		339.7		962.7		260.2		376.2		1,938.8		316.5		990.2		347.3		398.0	2,052.1

Others			3,304.2		4,292.1		1,941.0		4,347.4		13,884.7		3,213.2		4,248.1		1,570.5		4,044.6	13,076.4

Total			11,982.8		6,578.3		2,855.2		4,927.4		26,343.7		9,714.3		6,825.8		2,738.2		4,764.2	24,042.5

6. Notional amount of interest rate swaps (under deferred hedge accounting), classified by remaining maturity

SMBC non-consolidated

(Billions of yen)


		Sep. 30, 2024				Mar. 31, 2024

		1 year or less	More than 1 year to 5 years	More than 5 years	Total	1 year or less	More than 1 year to 5 years	More than 5 years	Total
	Receivable fixed rate / payable floating rate	6,707.3	24,809.0	7,087.1	38,603.3	4,285.0	24,030.3	5,612.4	33,927.7
	Receivable floating rate / payable fixed rate	1,036.6	6,916.4	12,191.3	20,144.3	1,223.6	7,761.0	10,739.1	19,723.7

Total		7,743.8	31,725.5	19,278.3	58,747.6	5,508.7	31,791.3	16,351.5	53,651.4

- 5 -


					(Millions of yen)
			At the beginning of FY3/2025		At the beginning of FY3/2024
			At the beginning of FY3/2025	Change	At the beginning of FY3/2024
Fair value of plan assets		(A)	1,821,219	156,946	1,664,273
Projected benefit obligation		(B)	944,690	(50,378)	995,068
Net surplus (deficit)		(A-B)	876,528	207,323	669,205
	Net defined benefit asset		913,791	209,137	704,654
	Net defined benefit liability		37,263	1,814	35,449

Measurements of defined benefit plans (before tax effect deduction)			(409,772)	(217,588)	(192,184)
	Unrecognized prior service cost (deductible from the obligation)		(11,798)	2,390	(14,188)
	Unrecognized net actuarial gain (loss)		(397,974)	(219,978)	(177,996)
(2) Retirement benefit expenses
					(Millions of yen)
			Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
			Six months ended Sep. 30, 2024	Change	Six months ended Sep. 30, 2023
Retirement benefit expenses			(13,483)	(8,463)	(5,020)
SMBC non-consolidated
(1) Projected benefit obligation
					(Millions of yen)
			At the beginning of FY3/2025		At the beginning of FY3/2024
			At the beginning of FY3/2025	Change	At the beginning of FY3/2024
Projected benefit obligation		(A)	793,191	(57,780)	850,971
	<Discount rate>		<1.26%>	<0.36%>	<0.90%>
	Fair value of plan assets	(B)	1,689,470	145,111	1,544,359
	Reserve for employee retirement benefits	(C)	-	-	-
	Prepaid pension cost	(D)	479,688	(16,640)	496,328
	Unrecognized prior service cost (deductible from the obligation)	(E)	(13,698)	2,651	(16,349)
	Unrecognized net actuarial gain (loss)	(A-B-C+D-E)	(402,892)	(222,182)	(180,710)
(2) Retirement benefit expenses
					(Millions of yen)
			Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
			Six months ended Sep. 30, 2024	Change	Six months ended Sep. 30, 2023
Retirement benefit expenses			(24,761)	(8,718)	(16,043)
	Service cost		8,375	(911)	9,286
	Interest cost on projected benefit obligation		4,997	1,168	3,829
	Expected returns on plan assets		(22,852)	(3,227)	(19,625)
	Amortization of unrecognized prior service cost		(1,325)	-	(1,325)
	Amortization of unrecognized net actuarial gain (loss)		(18,869)	(5,951)	(12,918)
	Others		4,913	203	4,710

- 6 -



*1		Includes direct reduction of 203.4 billion yen.
*2		Includes reserve for assets that are not subject to disclosure based on the Banking Act and the Reconstruction Act. (Bankrupt/Effectively bankrupt borrowers: 3.0 billion yen, Potentially bankrupt borrowers: 6.0 billion yen)
*3		Reserve ratios for claims on “Bankrupt borrowers”, “Effectively bankrupt borrowers”, “Potentially bankrupt borrowers”, “Substandard borrowers” and “Borrowers requiring caution (including Substandard borrowers)” are the proportion of the reserve for possible loan losses to each category’s total claims, excluding the portion secured by collateral or guarantees, etc.
*4		Reserve ratios for claims on “Normal borrowers” and “Borrowers requiring caution (excluding claims to Substandard borrowers)” are the proportion of the reserve for possible loan losses to the respective claims of each category. The reserve ratio for unsecured claims on “Borrowers requiring caution (excluding claims to Substandard borrowers)” is shown in [ ].
*5		Includes Specific reserve for “Borrowers requiring caution” totaling 0.0 billion yen.
*6		The proportion of the reserve to the claims, excluding the portion secured by collateral or guarantees, etc.

- 7 -



Consolidated						(Millions of yen, %)
		Sep. 30, 2024			Mar. 31, 2024
		Sep. 30, 2024			Mar. 31, 2024
		(a)	Reserve Ratio (b)	(a) - (c)	(c)	Reserve Ratio (d)
Reserve for possible loan losses		796,404	88.83	(21,174)	817,578	79.91
	General reserve	575,126		(20,855)	595,981
	Specific reserve	195,772		(6,709)	202,481
	Loan loss reserve for specific overseas countries	25,505		6,390	19,115

	Amount of direct reduction	257,369		6,528	250,841

SMBC non-consolidated						(Millions of yen, %)
		Sep. 30, 2024			Mar. 31, 2024
		Sep. 30, 2024			Mar. 31, 2024
		(a)	Reserve Ratio (b)	(a) - (c)	(c)	Reserve Ratio (d)
Reserve for possible loan losses		502,403	96.66	(20,982)	523,385	83.08
	General reserve	370,346		(26,460)	396,806
	Specific reserve	108,796		(1,365)	110,161
	Loan loss reserve for specific overseas countries	23,261		6,844	16,417

	Amount of direct reduction	203,429		(5,483)	208,912

Note: Reserve ratio (Reserve for possible loan losses / NPLs based on the Banking Act and the Reconstruction Act (Excluding Normal Assets)) is after direct reduction.

- 8 -


Consolidated					(Millions of yen, %)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
	Bankrupt and quasi-bankrupt loans		83,884	(76,302)	160,186
	Doubtful loans		509,609	(53,017)	562,626
	Substandard loans		303,029	2,707	300,322
		Past due loans (3 months or more)	53,868	(4,497)	58,365
		Restructured loans	249,161	7,204	241,957
Total (A)			896,522	(126,613)	1,023,135

	Normal assets		122,729,691	(2,301,939)	125,031,630
	Grand total (B)		123,626,214	(2,428,551)	126,054,765
NPL ratio (A/B)			0.73	(0.08)	0.81

					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Total coverage (C)			565,187	(131,621)	696,808
	Reserve for possible loan losses (D)		205,654	(15,319)	220,973
	Amount recoverable by guarantees, collateral and others (E)		359,532	(116,303)	475,835

					(%)
Coverage ratio (C) / (A)			63.04	(5.07)	68.11
Coverage ratio calculated with total reserve for possible loan losses included in the numerator			128.94	2.52	126.42

					(%)
Reserve ratio to unsecured assets (D) / (A - E)			38.30	(2.08)	40.38
Reserve ratio calculated with total reserve for possible loan losses included in the numerator			148.31	(1.07)	149.38

SMBC non-consolidated					(Millions of yen, %)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
	Bankrupt and quasi-bankrupt loans		61,342	(69,837)	131,179
	Doubtful loans		339,312	(38,554)	377,866
	Substandard loans		119,134	(1,812)	120,946
		Past due loans (3 months or more)	21,090	(595)	21,685
		Restructured loans	98,043	(1,217)	99,260
Total (A)			519,789	(110,203)	629,992

	Normal assets		116,731,354	(2,963,537)	119,694,891
	Grand total (B)		117,251,144	(3,073,739)	120,324,883
NPL ratio (A/B)			0.44	(0.08)	0.52

					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Total coverage (C)			449,250	(114,750)	564,000
	Reserve for possible loan losses (D)		137,003	(459)	137,462
	Amount recoverable by guarantees, collateral and others (E)		312,247	(114,291)	426,538

					(%)
Coverage ratio (C) / (A)			86.43	(3.10)	89.53
Coverage ratio calculated with total reserve for possible loan losses included in the numerator			156.73	5.95	150.78

					(%)
Reserve ratio to unsecured assets (D) / (A - E)			66.01	(1.55)	67.56
Reserve ratio calculated with total reserve for possible loan losses included in the numerator			242.07	(15.18)	257.25

Note: Reserve for possible loan losses is sum of general reserve for substandard loans and specific reserve.

- 9 -




			Sep. 30, 2024 (a)	(a) - (b)	NPLs newly classified during the six months ended Sep. 30, 2024	Amount of off-balancing	Mar. 31, 2024 (b)

	Bankrupt and quasi-bankrupt loans		61.3	(69.9)	4.8	(74.6)	131.2

	Doubtful loans		339.3	(38.6)	73.5	(112.0)	377.9

	Total		400.7	(108.3)	78.3	(186.7)	509.0

Result of measures connected to off-balancing (*1)			46.7				116.6



		Breakdown of off-balancing by factor (*2)	Disposition by borrowers’ liquidation			(0.3)
			Reconstructive disposition			(0.2)
			Improvement in debtors’ performance due to reconstructive disposition			-
			Loan sales to market			(3.9)
			Direct write-offs			6.8
			Others			(189.2)
				Collection / repayment, etc.		(162.1)
				Improvement in debtors’ performance		(27.0)

			Total			(186.7)


*1	The measures connected to off-balancing are legal reorganizations and other similar measures, corporate splits to good companies and bad companies, partial direct write-offs of retail exposure to individuals and small- and medium-sized enterprises, and trusts to RCC for the purpose of revitalization which is scheduled to be off-balanced before the maturity.

*2	1.	“Disposition by borrowers’ liquidation” refers to abandonment or write-off of loans involved in bankruptcy liquidation proceedings (bankruptcy or special liquidations).

	2.	“Reconstructive disposition” refers to abandonment of loans involved in reconstructive bankruptcy proceedings (corporate reorganization and civil rehabilitation), debt forgiveness involved in special mediation or other types of civil mediation, or debt forgiveness for restructuring involved in private reorganization.

- 10 -


		Sep. 30, 2024			Mar. 31, 2024
		(a)	Ratio	(a) - (b)	(b)	Ratio
Domestic offices (excluding Japan offshore banking accounts)		63,688,136	100.0	(806,784)	64,494,920	100.0
	Manufacturing	9,729,991	15.3	52,591	9,677,400	15.0
	Agriculture, forestry, fisheries and mining	212,641	0.3	(19,973)	232,614	0.4
	Construction	1,011,611	1.6	49,234	962,377	1.5
	Transportation, communications and public enterprises	5,770,412	9.1	(92,569)	5,862,981	9.1
	Wholesale and retail	4,979,203	7.8	(146,779)	5,125,982	8.0
	Finance and insurance	7,586,944	11.9	(403,896)	7,990,840	12.4
	Real estate	11,551,697	18.1	437,507	11,114,190	17.2
	Goods rental and leasing	2,463,042	3.9	(3,936)	2,466,978	3.8
	Various services	5,026,233	7.9	(277,010)	5,303,243	8.2
	Municipalities	430,345	0.7	(172,317)	602,662	0.9
	Others	14,926,012	23.4	(229,636)	15,155,648	23.5
Overseas offices and Japan offshore banking accounts		35,749,840	100.0	(879,952)	36,629,792	100.0
	Public sector	497,683	1.4	(39,408)	537,091	1.5
	Financial institutions	3,244,515	9.1	179,969	3,064,546	8.4
	Commerce and industry	30,253,812	84.6	(812,433)	31,066,245	84.8
	Others	1,753,829	4.9	(208,079)	1,961,908	5.3
Total		99,437,977	-	(1,686,735)	101,124,712	-

- 11 -


		Sep. 30, 2024			Mar. 31, 2024
		(a)	Reserve ratio	(a) - (b)	(b)
Domestic offices (excluding Japan offshore banking accounts)		301,091	65.9	(116,331)	417,422
	Manufacturing	86,132	66.4	(10,280)	96,412
	Agriculture, forestry, fisheries and mining	558	97.1	(399)	957
	Construction	7,569	55.1	813	6,756
	Transportation, communications and public enterprises	16,563	58.6	(3,101)	19,664
	Wholesale and retail	62,600	65.9	(7,327)	69,927
	Finance and insurance	178	63.2	(5,048)	5,226
	Real estate	21,848	61.4	(9,157)	31,005
	Goods rental and leasing	280	54.1	22	258
	Various services	76,553	52.2	(79,866)	156,419
	Municipalities	-	-	-	-
	Others	28,804	100.0	(1,989)	30,793
Overseas offices and Japan offshore banking accounts		218,698	66.1	6,129	212,569
	Public sector	-	-	-	-
	Financial institutions	-	-	-	-
	Commerce and industry	214,284	68.0	6,248	208,036
	Others	4,413	27.2	(120)	4,533
Total		519,789	66.0	(110,203)	629,992


Note:		Reserve ratio

		= (Reserve for possible loan losses) / (Assets excluding amounts recoverable due to guarantees, collateral and others) X 100

		Reserve for possible loan losses is sum of general reserve for substandard loans and specific reserve.

(3) Consumer loans outstanding


					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024

			(a)	(a) - (b)	(b)

Consumer loans			12,037,056	61,363	11,975,693
	Housing loans		11,262,270	48,276	11,213,994

		Self-residential purpose	9,431,701	93,912	9,337,789

	Other consumer loans		774,785	13,087	761,698
(4) Loans to small- and medium-sized enterprises, etc.
					(Millions of yen, %)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)
Outstanding balance			37,499,101	(581,191)	38,080,292
Ratio to total loans			58.9	(0.1)	59.0

Note: Outstanding balance includes loans to individuals.

- 12 -


		Sep. 30, 2024			Mar. 31, 2024
		(a)	Ratio	(a) - (b)	(b)	Ratio
Asia		7,840,306	22.7	(524,378)	8,364,684	23.6
	Indonesia	205,940	0.6	(52,665)	258,605	0.7
	Thailand	1,171,367	3.4	55,241	1,116,126	3.1
	Korea	400,998	1.2	(66,736)	467,734	1.3
	Hong Kong	1,217,658	3.5	(200,178)	1,417,836	4.0
	China	89,133	0.3	(20,653)	109,786	0.3
	Taiwan	598,306	1.7	63,495	534,811	1.5
	Singapore	2,144,218	6.2	(254,023)	2,398,241	6.8
	India	1,202,422	3.5	81,404	1,121,018	3.2
	Others	810,264	2.3	(130,263)	940,527	2.7
Oceania		2,911,691	8.4	168,144	2,743,547	7.7
	Australia	2,808,432	8.1	152,355	2,656,077	7.5
	Others	103,259	0.3	15,789	87,470	0.2
North America		13,791,595	40.0	(53,561)	13,845,156	39.1
	United States	10,781,583	31.3	(230,256)	11,011,839	31.1
	Others	3,010,012	8.7	176,695	2,833,317	8.0
Central and South America		2,184,487	6.3	(198,805)	2,383,292	6.7
	Brazil	407,649	1.2	(6,761)	414,410	1.1
	Panama	402,895	1.1	(15,904)	418,799	1.2
	Others	1,373,943	4.0	(176,140)	1,550,083	4.4
Western Europe		4,642,685	13.5	(380,911)	5,023,596	14.2
	United Kingdom	1,225,717	3.6	(25,294)	1,251,011	3.6
	Ireland	457,755	1.3	(47,840)	505,595	1.4
	Netherlands	618,607	1.8	(166,207)	784,814	2.2
	Others	2,340,606	6.8	(141,570)	2,482,176	7.0
Eastern Europe		225,046	0.7	(12,499)	237,545	0.7
	Russia	165,005	0.5	(14,336)	179,341	0.5
	Others	60,041	0.2	1,837	58,204	0.2
Others		2,898,292	8.4	80,774	2,817,518	8.0

Total		34,494,102	100.0	(921,236)	35,415,338	100.0

Note: Classified by domicile of debtors.

(2) NPLs based on the Banking Act and the Reconstruction Act, classified by domicile

(Millions of yen, %)


		Sep. 30, 2024			Mar. 31, 2024
		(a)	Reserve Ratio	(a) - (b)	(b)
Overseas offices and Japan offshore banking accounts		218,698	66.1	6,129	212,569
	Asia	95,227	69.3	(14,649)	109,876
	Oceania	-	-	(234)	234
	North America	34,066	52.2	(10,303)	44,369
	Central and South America	19,970	100.0	(4,729)	24,699
	Western Europe	43,882	71.1	36,907	6,975
	Eastern Europe	18,166	33.4	(422)	18,588
	Others	7,385	44.9	(440)	7,825

- 13 -


					(Millions of yen)
			Six months ended		Six months ended
			Sep. 30, 2024 (a)	(a) - (b)	Sep. 30, 2023 (b)

Deposits			155,369,312	2,736,663	152,632,649

	Domestic units		123,352,930	3,623,196	119,729,734


Loans			101,465,003	5,927,249	95,537,754

	Domestic units		60,100,183	3,276,605	56,823,578
Note: Deposits do not include negotiable certificates of deposit. (2) Balance of deposits and loans, classified by type of depositor
					(Millions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)

Deposits			152,477,918	(1,016,519)	153,494,437
	Domestic deposits (excluding Japan offshore banking accounts)		127,630,618	(37,513)	127,668,131

		Individuals	60,428,935	621,339	59,807,596

		Corporates	67,201,683	(658,852)	67,860,535


Loans			99,437,977	(1,686,735)	101,124,712
	Domestic offices (excluding Japan offshore banking accounts)		63,688,136	(806,784)	64,494,920

	Overseas offices and Japan offshore banking accounts		35,749,840	(879,952)	36,629,792
Note: Deposits do not include negotiable certificates of deposit. Reference:
					(Billions of yen)
			Sep. 30, 2024		Mar. 31, 2024
			(a)	(a) - (b)	(b)

Balance of investment trusts			4,545.5	93.0	4,452.5

	Balance to individuals		3,633.4	69.1	3,564.3
Note: Balance of investment trusts is recognized on a contract basis and measured according to each fund’s net asset balance at the period-end.
					(Billions of yen)
			Six months ended		Six months ended
			Sep. 30, 2024 (a)	(a) - (b)	Sep. 30, 2023 (b)
Sales of investment trusts to individuals			386.4	25.8	360.6

Sales of pension-type insurance to individuals			35.0	(18.7)	53.7

- 14 -


							(Billions of yen)

SMBC non-consolidated					Sep. 30, 2024	Change from Mar. 31, 2024	Mar. 31, 2024
(a)	Total deferred tax assets		(b-c)	1	385.0	2.1	382.9
	(b)	Subtotal of deferred tax assets		2	493.9	7.1	486.8
		Reserve for possible loan losses and write-off of loans		3	217.7	(8.1)	225.8
		Taxable write-off of securities		4	87.8	(1.6)	89.4
		Others		5	188.4	16.8	171.6
	(c) Valuation allowance			6	108.9	5.0	103.9
(d) Total deferred tax liabilities				7	728.6	(84.1)	812.7
	Net unrealized gains on other securities			8	628.3	(91.5)	719.8
	Others			9	100.3	7.4	92.9

Net deferred tax assets			(a-d)	10	(343.6)	86.2	(429.8)
	Amount corresponding to net deferred gains (losses) on hedges included in line 5 and net unrealized gains (losses) on other securities included in line 8			11	(567.1)	117.2	(684.3)
	Others			12	223.5	(31.0)	254.5

SMBC recognized deferred tax assets pursuant to paragraph 19 (classification 2) of the “Implementation Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26). This is due to the fact that SMBC has generated steady taxable income, excluding amounts arising from extraordinary factors, in all of the current and past three fiscal years.

Reference: Income of final tax return before deducting operating loss carryforwards for the last 3 years


				(Billions of yen)

	FY3/2022	FY3/2023	FY3/2024	1H, FY3/2025
Income of final tax return before deducting operating loss carryforwards	655.5	621.2	1,104.6	699.4
Note: The figure for 1H, FY3/2025 was estimated in interim closing.

- 15 -


Consolidated			(Billions of yen, %)
	Sep. 30, 2024 [Preliminary]		Mar. 31, 2024
	(a)	(a) - (b)	(b)

(1) Total capital ratio (4) / (7)	15.99	0.70	15.29

(2) Tier 1 capital ratio (5) / (7)	14.83	0.50	14.33

(3) Common equity Tier 1 capital ratio (6) / (7)	13.18	0.27	12.91

(4) Total capital	14,477.2	279.4	14,197.9

(5) Tier 1 capital	13,420.9	109.4	13,311.6

(6) Common equity Tier 1 capital	11,930.3	(62.3)	11,992.6

(7) Risk weighted assets	90,490.9	(2,357.7)	92,848.6

(8) Required capital (7) X 8%	7,239.3	(188.6)	7,427.9

(9) Leverage Ratio	5.46	0.19	5.27

SMBC consolidated

(1) Total capital ratio	17.08	0.97	16.11

(2) Tier 1 capital ratio	15.54	0.74	14.80

(3) Common equity Tier 1 capital ratio	12.85	0.43	12.42

(4) Leverage Ratio	5.36	0.17	5.19

SMBC non-consolidated

(1) Total capital ratio	15.69	1.42	14.27

(2) Tier 1 capital ratio	13.90	1.04	12.86

(3) Common equity Tier 1 capital ratio	10.97	0.62	10.35

(4) Leverage Ratio	4.76	0.13	4.63

17. ROE
Consolidated			(%)
	Six months ended Sep. 30, 2024		Six months ended Sep. 30, 2023
	(a)	(a) - (b)	(b)

ROE (Tokyo Stock Exchange ‘s standard)	9.8	1.8	8.0

ROE (denominator: Total stockholders’ equity)	13.3	3.3	10.0

Note:


ROE (denominator: Total stockholders’ equity)	=	(Profit attributable to owners of parent) x (Number of days in a year (365 days)) / (Number of days in the period (183 days))	X 100
		{(Total stockholders’ equity at the beginning of the period) + (Total stockholders’ equity at the end of the period)} / 2

- 16 -


Consolidated		(Billions of yen)
	FY3/2025	FY3/2024 Result
Consolidated net business profit	1,620.0	1,560.2
Total credit cost	(260.0)	(274.0)
Ordinary profit	1,710.0	1,466.1
Profit attributable to owners of parent	1,160.0	962.9

SMBC non-consolidated		(Billions of yen)
	FY3/2025	FY3/2024 Result
Banking profit (before provision for general reserve for possible loan losses)	1,020.0	901.3
Total credit cost	(45.0)	(96.3)
Ordinary profit	1,420.0	1,040.5
Net income	1,040.0	762.6

(2) Dividends forecast
			(Yen)
	FY3/2025		FY3/2024
			FY3/2024
	Interim	Annual	Result
Dividend per share for common stock	60	120	90
Note: On October 1, 2024, the Company effected a three for one split of its common stock on the record date of September 30, 2024.

The amount of dividend per share for common stock for the fiscal year ended March 31, 2024, as well as the amounts of interim and annual dividend per share for common stock for the fiscal year ending March 31, 2025 take into account the stock split.
Reference:			(Billions of yen)
	FY3/2025		FY3/2024
			FY3/2024
	Interim	Annual	Result
Total dividend	234.9	466.9	357.5

- 17 -


			(Millions of yen)
	Sep. 30, 2024		Mar. 31, 2024
	(a)	(a) - (b)	(b)

Assets

Cash and due from banks	67,204,506	(5,456,698)	72,661,204

Call loans	3,129,773	(1,175,730)	4,305,503

Receivables under resale agreements	6,975,419	5,194,065	1,781,354

Receivables under securities borrowing transactions	1,328,873	(1,209,921)	2,538,794

Monetary claims bought	2,201,711	(168,389)	2,370,100

Trading assets	2,788,769	86,584	2,702,185

Securities	36,230,788	1,564,183	34,666,605

Loans and bills discounted	99,437,977	(1,686,735)	101,124,712

Foreign exchanges	2,240,302	298,448	1,941,854

Other assets	7,027,822	(1,851,428)	8,879,250

Tangible fixed assets	741,287	(5,319)	746,606

Intangible fixed assets	364,917	22,943	341,974

Prepaid pension cost	521,157	41,469	479,688

Customers’ liabilities for acceptances and guarantees	14,146,007	(1,566,353)	15,712,360

Reserve for possible loan losses	(502,403)	20,982	(523,385)

Reserve for possible losses on investments	(11,064)	(4,434)	(6,630)

Total assets	243,825,845	(5,896,334)	249,722,179

Note: Amounts less than 1 million yen are rounded down.

- 18 -


	Sep. 30, 2024		Mar. 31, 2024
	(a)	(a) - (b)	(b)

Liabilities

Deposits	152,477,918	(1,016,519)	153,494,437

Negotiable certificates of deposit	13,611,494	(1,215,283)	14,826,777

Call money	833,848	(194,287)	1,028,135

Payables under repurchase agreements	13,476,614	1,119,036	12,357,578

Payables under securities lending transactions	572,674	(96,751)	669,425

Commercial paper	1,090,515	(459,000)	1,549,515

Trading liabilities	1,869,748	46,509	1,823,239

Borrowed money	24,423,483	(695,778)	25,119,261

Foreign exchanges	2,260,320	(647,372)	2,907,692

Bonds	378,631	(93,530)	472,161

Due to trust account	1,505,674	(304,562)	1,810,236

Other liabilities	8,498,261	(928,855)	9,427,116

Reserve for employee bonuses	11,731	(2,612)	14,343

Reserve for executive bonuses	-	(1,344)	1,344

Reserve for point service program	1,860	279	1,581

Reserve for reimbursement of deposits	6,191	(2,092)	8,283

Deferred tax liabilities	343,595	(86,165)	429,760

Deferred tax liabilities for land revaluation	27,025	(291)	27,316

Acceptances and guarantees	14,146,007	(1,566,353)	15,712,360

Total liabilities	235,535,596	(6,144,972)	241,680,568

Net assets

Capital stock	1,770,996	-	1,770,996

Capital surplus	1,774,554	-	1,774,554

Capital reserve	1,771,043	-	1,771,043

Other capital surplus	3,510	-	3,510

Retained earnings	3,903,251	406,551	3,496,700

Other retained earnings	3,903,251	406,551	3,496,700

Voluntary reserve for retirement allowances	1,656	-	1,656

Voluntary reserve	219,845	-	219,845

Retained earnings brought forward	3,681,749	406,551	3,275,199

Treasury stock	(210,003)	-	(210,003)

Total stockholders’ equity	7,238,799	406,551	6,832,248

Net unrealized gains (losses) on other securities	1,593,376	(209,934)	1,803,310

Net deferred gains (losses) on hedges	(566,101)	52,591	(618,692)

Land revaluation excess	24,175	(569)	24,744

Total valuation and translation adjustments	1,051,450	(157,912)	1,209,362

Total net assets	8,290,249	248,638	8,041,611

Total liabilities and net assets	243,825,845	(5,896,334)	249,722,179

Note: Amounts less than 1 million yen are rounded down.

- 19 -


	Six months ended Sep. 30, 2024 (a)		Six months ended Sep. 30, 2023
	Six months ended Sep. 30, 2024 (a)	(a) - (b)	(b)
Ordinary income	3,752,081	671,276	3,080,805

Interest income	2,826,923	538,504	2,288,419

Interest on loans and discounts	1,529,575	181,658	1,347,917

Interest and dividends on securities	549,777	285,627	264,150

Trust fees	1,590	168	1,422

Fees and commissions	363,250	23,502	339,748

Trading income	184,172	180,432	3,740

Other operating income	41,024	(302,510)	343,534

Other income	335,120	231,180	103,940
Ordinary expenses	2,787,413	157,646	2,629,767

Interest expenses	1,963,468	202,798	1,760,670

Interest on deposits	665,307	1,688	663,619

Fees and commissions payments	107,202	(1,025)	108,227

Trading losses	663	(184,808)	185,471

Other operating expenses	183,801	156,736	27,065

General and administrative expenses	503,781	32,041	471,740

Other expenses	28,495	(48,097)	76,592

Ordinary profit	964,668	513,631	451,037

Extraordinary gains	1,481	1,437	44

Extraordinary losses	3,593	1,919	1,674

Income before income taxes	962,556	513,149	449,407

Income taxes - current	205,121	77,537	127,584

Income taxes - deferred	29,309	53,216	(23,907)

Total income taxes	234,430	130,753	103,677

Net income	728,125	382,395	345,730

Note: Amounts less than 1 million yen are rounded down.

- 20 -


Six months ended September 30, 2024																						(Millions of yen)
				Capital surplus						Retained earnings
										Other retained earnings
	Capital stock			Capital reserve			Other capital surplus			Voluntary reserve for retirement allowances			Voluntary reserve			Retained earnings brought forward			Treasury stock			Total stockholders’ equity
Balance at the beginning of the period		1,770,996			1,771,043			3,510			1,656			219,845			3,275,199			(210,003	)	6,832,248

Changes in the period

Cash dividends																	(322,145	)				(322,145)

Net income																	728,125					728,125

Reversal of land revaluation excess																	569					569
Net changes in items other than stockholders’ equity in the period

Net changes in the period																	406,550					406,550
Balance at the end of the period		1,770,996			1,771,043			3,510			1,656			219,845			3,681,749			(210,003	)	7,238,799

											(Millions of yen)
	Valuation and translation adjustments
	Net unrealized gains (losses) on other securities			Net deferred gains (losses) on hedges			Land revaluation excess			Total valuation and translation adjustments			Total net assets
Balance at the beginning of the period		1,803,310			(618,692	)		24,744			1,209,362			8,041,611

Changes in the period

Cash dividends														(322,145	)

Net income														728,125

Reversal of land revaluation excess														569
Net changes in items other than stockholders’ equity in the period		(209,934	)		52,591			(569	)		(157,912	)		(157,912	)

Net changes in the period		(209,934	)		52,591			(569	)		(157,912	)		248,637
Balance at the end of the period		1,593,376			(566,101	)		24,175			1,051,450			8,290,249

Note: Amounts less than 1 million yen are rounded down.

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Sumitomo Mitsui Financial Group, Inc.

By:	/s/ Jun Okahashi
	Name:	Jun Okahashi
	Title:	Executive Officer & General Manager, Financial Accounting Dept

Reserve ratio

= (Reserve for possible loan losses)/(Assets excluding amounts recoverable due to guarantees, collateral and others) X 100

Reserve for possible loan losses is sum of general reserve for substandard loans and specific reserve.

Classified by domicile of debtors.


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:		Form 20-F ☒		Form 40-F ☐