February 2, 2018 / 7:14 AM / a year ago

MUFG 9-month profit rises 9.7 pct on fewer bad loans

TOKYO, Feb 2 (Reuters) - Mitsubishi UFJ Financial Group said on Friday net profit rose 9.7 percent in the nine months ended December, helped by fewer bad loans and gains from its stock portfolio.

Japan’s largest lender said net profit came in at 863.4 billion yen ($7.86 billion) for the April-December period, compared with 786.9 billion yen a year earlier.

The bank’s profit was also boosted by a strong performance from Morgan Stanley. MUFG owns about one-fifth of the Wall Street investment bank.

For the full year through March, the bank kept its net profit forecast of 950 billion yen, up 2.5 percent from the previous year and below an average estimate of 1.01 trillion yen in a poll of 14 analysts by Thomson Reuters. ($1 = 109.8100 yen) (Reporting by Taiga Uranaka; Editing by Subhranshu Sahu)

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