Japan's MUFG lifts profit forecasts after Q2 net income nearly doubles

Published 11/14/2024, 02:40 AM
Updated 11/14/2024, 02:46 AM
© Reuters. People are reflected in the logo of Mitsubishi UFJ  Financial Group's bank of Tokyo-Mitsubishi UFJ (MUFG) in Tokyo, Japan, May 16, 2016. REUTERS/Thomas Peter
MUFG
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TOKYO (Reuters) - Mitsubishi UFJ (NYSE:MUFG) Financial Group, Japan's top lender by assets, on Thursday raised its annual net profit forecast to a record 1.75 trillion yen ($11.23 billion) after second-quarter profit surged on higher interest rates and the sale of cross-held shares.

© Reuters. People are reflected in the logo of Mitsubishi UFJ  Financial Group's bank of Tokyo-Mitsubishi UFJ (MUFG) in Tokyo, Japan, May 16, 2016. REUTERS/Thomas Peter

Group net profit for the July-September period came to 702 billion yen, up 90% from 369 billion yen in the year-earlier quarter. It had previously forecast a full-year net profit of 1.5 trillion yen.

($1 = 155.8400 yen)

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