July 31, 2019 / 7:17 AM / 2 months ago

Japan's largest lender MUFG posts 24% rise in Q1 net profit

TOKYO, July 31 (Reuters) - Mitsubishi UFJ Financial Group Inc (MUFG) on Wednesday said its net profit rose 24.1% in the first quarter ended June, primarily helped by gains from the sale of foreign bonds.

Japan’s largest lender by assets reported profit of 391 billion yen ($3.60 billion) for the three-month period, versus 315 billion yen a year earlier.

For the full year ending March, the bank retained its profit forecast of 900 billion yen, down 3% on year. That compared with the 920.8 billion yen average of 11 analyst estimates compiled by Refinitiv. ($1 = 108.5300 yen) (Reporting by Takashi Umekawa; Editing by Christopher Cushing)

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