TOKYO Mitsubishi UFJ Financial Group Inc (MUFG), Japan’s largest lender by assets, on Tuesday said its net profit fell 52.9% in its first quarter to June 30 after credit-related costs ballooned during the coronavirus pandemic.
MUFG reported profit of 183.5 billion yen ($1.73 billion) for the three-month period, against 389.2 billion yen a year earlier.
The bank retained its full-year profit forecast of 550 billion yen. That compared with an average estimate of 594.1 billion yen from 10 analyst forecasts compiled by Refinitiv.
($1 = 106.0500 yen)
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