Mitsubishi UFJ Financial Group quarterly net profit jumped 48%
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.
Mitsubishi UFJ Financial Group, Japan's biggest bank, reported a $2.7 billion annual loss, its first since forming four years ago, hit by a damaging recession and big losses on its stock portfolio, but forecast a rebound, Reuters said.