Japan's top bank MUFG posts narrower-than-expected Q4 decline
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FILE PHOTO: A woman walks past a signboard of MUFG Bank in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/File Photo
TOKYO (Reuters) - Mitsubishi UFJ Financial Group (MUFG) posted a narrower-than-expected decline in fourth-quarter profit on Wednesday, and forecast slight profit growth in the current financial year.
For the January-March fourth quarter, MUFG reported a group net profit of 192.87 billion yen ($1.24 billion), compared with 773.3 billion yen in the same period a year earlier. The results also compared the 147 billion yen quarterly profit implied by the full-year forecasts of 13 analysts polled by LSEG.
For the current financial year, MUFG forecast a profit of 1.5 trillion yen. That compared to the full-year profit of 1.49 trillion in the year that just ended.
MUFG is the last of Japan's three megabanks to report quarterly results on Wednesday.
($1 = 156.0400 yen)
(Reporting by Anton Bridge; Editing by David Dolan and Edwina Gibbs)
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