Mizuho posts 45% jump in first-quarter profit, raises annual forecast

TOKYO, July 30 : Japan's Mizuho Financial Group reported a 45 per cent rise in first-quarter profit on Thursday, a sign that loan demand has stayed strong despite volatile global energy markets and supply chain disruptions caused by war in the Middle East.Japan's third-largest banking group also raised its annual profit forecast to 1.4 trillion yen ($8.56 billion)- which would be a record - for the year ending March 2027.Japanese banks' profitability has surged in recent years as the end of decades of deflation encourages companies to take out loans to fund growth investments, capital expenditure and mergers and acquisitions.Banks have also benefited from higher spreads between deposits and loans as the Bank of Japan has raised interest rates in response to inflation. Net profit for the Ap