Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest lender by assets, on Monday reported that first-quarter net profit doubled year on year ...
Mitsubishi UFJ Financial Group Inc , Japan's largest lender by assets, on Monday reported that first-quarter net profit doubled year on year as credit-related costs dropped sharply.
MUFG, which owns about 20per cent of Wall Street investment bank Morgan Stanley, reported profit of 383.1 billion yen for the three months to June 30, against 183.5 billion yen a year earlier.The bank retained its full-year profit forecast of 850 billion yen. That compared with an average forecast of 859 billion yen from nine analyst estimates compiled by Refinitiv.
MUFG's credit-related costs in the first quarter came in at 5.1 billion yen, versus 145 billion yen in the same period last year.
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