Japan's largest bank MUFG increased revenue by 9.7%


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.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong