Mitsubishi UFJ and Macquarie Group post sharp drops in profit
Mitsubishi UFJ and Macquarie Group became the latest Asian lenders to post sharp drops in profits, but shares in Macquarie soared after it announced that it was not tapping investors for more cash.
It has been reported that Mitsubishi UFJ Financial Group Inc. said Friday its quarterly net profit jumped 48% to 75.94 billion yen, helped by an increase in overseas lending income, lower foreign-currency-funding costs and gains related to the integration of consumer lender Acom Co. Japan's largest by assets, reported revenue for April through June of 1.336 trillion yen, compared to 1.438 trillion yen for the year-earlier period.