Mitsubishi UFJ Financial Group Inc. reported a 7.7% year-over-year decline in net profit for the nine months ended Dec. 31, 2016, as net interest income dropped.

The group said profit attributable to owners of the parent dropped to ¥786.94 billion, or ¥57.60 per share, from ¥852.28 billion, or ¥60.95 per share, in the prior-year period.

Net interest income fell to ¥1.470 trillion from ¥1.596 trillion. Net fees and commissions dropped to ¥916.30 billion from ¥954.88 billion, while net trading profits declined to ¥179.01 billion from ¥257.422 billion.

Ordinary profits for the period slipped to ¥1.212 trillion from ¥1.341 trillion, while ordinary income inched up to ¥4.319 trillion from ¥4.291 trillion.

The group's banking units Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust & Banking Corp. reported aggregate net income of ¥560.73 billion, down 8.4% year over year from ¥612.36 billion

The banking units' net interest income declined to ¥939.71 billion from ¥1.028 trillion, while net fees and commissions fell to ¥414.65 billion from ¥426.66 billion.

As of Dec. 31, 2016, the two banks' nonperforming loans ratio clocked in at 1.07%, compared to 1.19% as of March 31, 2016.

As of Feb. 2, US$1 was equivalent to ¥112.39.