MUFG slows profit decline with boost from overseas loans
Mitsubishi UFJ Financial Group’s net profit for the financial year ended in March dropped 13.1% compared to a year earlier, but a robust increase in foreign lending helped the group counter unenthusiastic growth back home.
The Tokyo lender surpassed its own forecast with a ¥852.62bn net profit, compared to the ¥981.33bn earned in the previous financial year when it benefitted from a one-off gain from its stake in Morgan Stanley.
Yet consolidated gross profit for the end of the financial year increased by ¥132.1bn
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