TOKYO (dpa-AFX) - Mitsubishi UFJ Financial Group, Inc. (MTU), a Japanese bank holding and financial services company, on Tuesday reported a surge in net profit for the first-quarter, reflecting improved earnings from customer segments and depreciation of yen.
For the three-month period to June 30, the lender posted a profit of 558.389 billion yen or 46.29 yen per share, higher than 113.685 billion yen or 8.94 yen per share, posted for the same period of 2022.
Pre-tax income was at 703.061 billion yen as against last year's 241.043 billion yen.
Ordinary profit surged to 725.585 billion yen from previous year's 262.961 billion yen.
Ordinary income stood at 2.774 trillion yen, higher than 2.163 trillion yen of 2022.
Interest income improved to 1.671 trillion yen from 1.205 trillion yen of previous year.
Looking ahead, for full year or 12-month period to March 31, 2024, Mitsubishi still expects to post a net profit of 1,300 billion yen.
For the second-quarter, the lender aims to pay a dividend of 20.50 yen per share, which is higher than 16 yen per share paid for the same period a year ago.
For full year, the company projects to pay a total dividend of 41 yen per share. Last year, Mitsubishi had paid a total dividend of 32 yen per share.
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