SBI Shinsei Bank H1 Ordinary Profit Jumps 47.6% on Net Interest Income, but Net Profit Flat as Prior-Year Tax Benefit Drops Out

Interest income does the work

SBI Shinsei Bank, Limited (TSE: 8303) reported consolidated results for the first half of FY3/2027, April 1 to September 30, 2026, on November 2, 2026 under Japanese GAAP. On the bank's management basis, net interest income rose to ¥102.2 billion from ¥64.4 billion, while non-interest income slipped to ¥97.5 billion from ¥101.2 billion as trading and other business income fell, although fees and commissions rose to ¥29.3 billion from ¥23.9 billion and lease and installment income to ¥41.9 billion. Total revenue therefore rose to ¥199.8 billion from ¥165.7 billion, expenses rose to ¥93.3 billion from ¥86.5 billion, and core business profit increased to ¥106.4 billion from ¥79.2 billion. Credit costs were unchanged at ¥17.1 billion.

Tax swing holds net profit flat

Pre-tax profit on the management basis rose to ¥92.9 billion from ¥61.6 billion, but current income taxes rose to ¥22.2 billion from ¥7.6 billion and deferred taxes swung to a ¥1.4 billion charge from a ¥15.2 billion benefit, leaving net profit at ¥69,096 million, or ¥77.89 per share. During the period Shimane Bank and Fukushima Bank became equity-method affiliates. Total assets rose to ¥26,383,645 million and net assets to ¥1,266,182 million. The bank kept its FY3/2027 forecast of pre-tax profit of ¥132,000 million (+8.1%). It paid an interim dividend of ¥10 and plans a year-end dividend whose total for the year is to be at least ¥42.

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