May 15, 2018 / 8:27 AM / 10 days ago

Japan's MUFG says profit rose 6.8 pct last year, misses estimates

TOKYO, May 15 (Reuters) - Mitsubishi UFJ Financial Group Inc (MUFG) on Tuesday reported a 6.8 percent rise in net profit for the year ended March, missing analyst estimates, as lower bad loan costs and gains from equity holdings offset tepid domestic lending.

Japan’s largest bank by market valuation said profit totalled 989.7 billion yen ($9.01 billion), versus 926.4 billion yen a year earlier. The result compared with the 1 trillion yen average of 13 analyst estimates compiled by Thomson Reuters.

For the year ending March 2019, MUFG forecast profit of 850 billion yen. That compared with an average analyst estimate of 984.3 billion yen. ($1 = 109.8200 yen) (Reporting by Taiga Uranaka Editing by Christopher Cushing)

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