TOKYO Feb 3 Mitsubishi UFJ Financial Group
on Friday reported a 7.7 percent drop in profits for
the nine months ended December, joining other Japanese banks who
have also posted weak results for the period as low interest
rates dragged on lending incomes.
Japan's largest lender by assets said its net profit came in
at 786.9 billion yen ($6.7 billion) for the April-December
period, down from 852.3 billion yen a year earlier.
Net interest income, or profits from lending business, fell
to 1.47 trillion yen, down from 1.6 billion yen a year earlier.
For the full-year through March, MUFG kept its net profit
forecast at 850 billion yen, down 10.7 percent from the previous
year. Seventeen analysts on an average expect a net profit of
923.1 billion yen for the period, Thomson Reuters data shows.
($1 = 113.0800 yen)
(Reporting by Taiga Uranaka; Editing by Himani Sarkar)