Mitsubishi UFJ Swings to $2.4B Profit
TOKYO (
) --
Mitsubishi UFJ Financial
(MTU)
, Japan's biggest bank by assets, said it swung to a profit in the nine months through December as net interest income rose and expenses fell.
Mitsubishi UFJ said profit for the April to December period was 217 billion yen ($2.4 billion) vs. a year-loss of 42 billion yen.
Revenue declined to 3.77 trillion yen from 4.35 trillion yen a year earlier.
The bank said it still forecasts profit for the fiscal year ending next month of 300 billion yen; it posted a loss of almost 257 billion yen in the previous fiscal year.
Net interest income in the latest nine months period rose to 1.65 trillion yen from 1.41 trillion yen a year earlier.
Mitsubishi UFJ shares fell 0.6% on Wednesday in Tokyo.
-- Reported by Joseph Woelfel in New York.
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