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Mitsubishi UFJ Financial fiscal-year net profit rises 6.8% YOY

Mitsubishi UFJ Financial Group Inc. reported a 6.8% year-over-year gain in net profit for the fiscal full year ended March 31.

The group said profits attributable to owners of the parent company for the year increased to ¥989.66 billion from ¥926.44 billion, higher than its forecast of ¥950 billion from a year ago. EPS rose to ¥74.29 as of end-March, from ¥68 in the year-ago period.

The S&P Capital IQ consensus GAAP EPS estimate for the fiscal full year was ¥75.21.

Net interest income dropped to ¥1.907 trillion from ¥2.024 trillion, while net fees and commissions slipped slightly to ¥1.327 trillion from ¥1.328 trillion in the same period last year.

Ordinary income rose to ¥6.068 trillion from ¥5.980 trillion, while ordinary profits rose to ¥1.462 trillion from ¥1.361 trillion in the prior-year period.

As of March 31, Mitsubishi UFJ Financial's consolidated total capital ratio stood at 16.56%, up from 15.85% at March 31, 2017. Its common equity Tier 1 and Tier 1 ratios as of end-March were 12.58% and 14.32% respectively, up from 11.76% and 13.36%.

MUFG Bank Ltd. reported a year-over-year decline in consolidated net profit attributable to owners for the fiscal year to ¥575.26 billion from ¥689.93 billion.

Net interest income fell to ¥1.586 trillion from ¥1.713 trillion, and net fees and commission dropped to ¥723.16 billion from ¥729.81 billion in the year-ago period.

The lender saw a decline in gross profits to ¥2.626 trillion from ¥2.771 trillion. The bank's ordinary profits fell to ¥901.55 billion from ¥992.06 billion in the year ended March 31, 2017.

Bank of Tokyo-Mitsubishi's unconsolidated nonperforming loans ratio stood at 0.99% as of end-March, down from 1.22% in the same period last year.

Meanwhile, Mitsubishi UFJ Trust & Banking Corp. reported a year-over-year increase in fiscal-year consolidated profits attributable to owners of parents to ¥168.20 billion from ¥114.31 billion.

Net interest income climbed slipped slightly to ¥134.70 billion from ¥135.32 billion, while net fees and commissions slid to ¥204.41 billion from ¥205.40 billion.

The company's gross profits dropped to ¥461.21 billion from ¥483.13 billion, while ordinary profits climbed to ¥220.62 billion from ¥179.38 billion.

Its unconsolidated NPL ratio stood at 0.23% as of the end of March, down from 0.44% a year earlier.

Mitsubishi UFJ Financial declared a final dividend of ¥10 per share for the fiscal year, up from ¥9 per share for the prior-year period. Including an interim dividend of ¥9 per share, the group's total dividend for the year amounted to ¥19 per share, up from ¥18 per share year over year.

The group expects to post net profit attributable to owners of ¥850 billion for the fiscal year ending March 31, 2019.

As of May 14, US$1 was equivalent to ¥109.61.