Higher-Than-Expected MUFG Profit Comes From Reversals of Credit Costs While Core Business Struggles
Mitsubishi UFJ Financial Group posted better-than-expected profit at the bottom line for the July-September quarter owing to JPY 93 billion in write-backs of reserves for losses on loans to borrowers now judged to be less of a risk, but excluding one-time factors, it was another difficult quarter for MUFG. Strong returns from equity method affiliate Morgan Stanley, which contributed 20% of total profit during the period, and growth at Thai subsidiary Bank of Ayudhya could not compensate for the ...Mitsubishi UFJ Financial Group is financial groups with total assets of Y297,185,019 million as of Mar. 31, 2017. Co. is the holding company for The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., and other companies. As a bank holding company, Co. is regulated under the Banking Law of Japan. Its services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and many more fields of financial services.
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