TOKYO May 15 Mitsubishi UFJ Financial Group
(MUFG) said on Monday net profit fell 2.6 percent for
the year ended in March, hurt by weak lending income.
Japan's biggest lender by assets said net profit came in at
926.4 billion yen ($8.16 billion)in the April-March period, down
from 951.4 billion yen in the previous year. It compares with
the 961.3 billion yen average estimate of 16 analysts compiled
by Thomson Reuters and MUFG's own conservative forecasts of an
850 billion yen profit.
Japanese banks' struggles to reverse years of declining
lending income was dealt a blow last year by the central bank's
decision to introduce a negative interest rate policy, which has
squeezed already thin loan margins.
For the current financial year, MUFG forecast a net profit
of 950 billion yen, compared to the 985.4 billion yen average
estimate of 18 analysts.
MUFG owns about 20 percent of Morgan Stanley and has
a controlling stake in Bank of Ayudhya, Thailand's
($1 = 113.5800 yen)
(Reporting by Taiga Uranaka; Editing by Muralikumar