November 13, 2018 / 6:56 AM / a month ago

Japan's MUFG H1 profit up 3.8 pct, raises outlook

TOKYO, Nov 13 (Reuters) - Mitsubishi UFJ Financial Group Inc (MUFG) reported on Tuesday a 3.8 percent rise in net profit for the six months through September, buoyed by gains from equity holdings and hefty income from the release of bad loan provisions.

Japan's largest lender by assets said profit was 650.8 billion yen ($5.71 billion) in April-September compared to 626.9 billion yen in the same period a year earlier.

It raised its profit forecast for the year to March-end by 100 billion yen to 950 billion yen, slightly below the 959.5 billion yen average of 14 analyst estimates, according to Refinitiv data.

MUFG owns 24 percent of U.S. bank Morgan Stanley and 77 percent of Thailand's Bank of Ayudhya PCL. ($1 = 113.9400 yen) (Reporting by Taiga Uranaka; Editing by Christopher Cushing and Muralikumar Anantharaman)

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