• Sumitomo average return on tangible equity for 2022 was 10.5, a 11.46% decline from 2021.
• Sumitomo average return on tangible equity for 2021 was 9.42, a 10.05% increase from 2020.
• Sumitomo average return on tangible equity for 2020 was 8.56, a 27.52% increase from 2019.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.