Japan's largest bank MUFG increased revenue by 9.7%

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According to the results of 3 quarters of the current fiscal year, Mitsubishi UFJ Financial Group Inc., the largest bank in Japan, increased its net profit by 1% to 872.23 billion yen or $7.9 billion. Per share, earnings rose to 66.68 yen against 66.43 yen over the earnings period of the last fiscal year. Revenue grew by 9.7% in 9 months and exceeded 5 trillion yen. The downturn in the stock market in the 3rd quarter led to a 6.4% drop in profits to 221.4 billion yen. MUFG stock portfolio has lost 485 million yen in price. The bank managed to increase profit from lending operations by 4.3% in the third quarter. Profit from trading in fixed-income assets increased 2 times - from 24.19 billion yen to 49.48 billion yen. The soft credit policy of the Bank of Japan had a negative effect on banking activities - MUFG supported profits through the sale of shares. This practice makes banks vulnerable to stock market fluctuations.

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