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MUFG revenue soars in bumper earnings season for Japan banks

MUFG revenue soars in bumper earnings season for Japan banks


Mitsubishi UFJ Financial Group’s revenue jumped within the third quarter, beating estimates and wrapping up a powerful earnings season by Japan’s greatest banks.

Net revenue on the nation’s largest lender rose 32% from a 12 months earlier to ¥490.7 billion ($3.2 billion) within the three months ended Dec. 31, based on nine-month outcomes launched on Tuesday. That exceeded the ¥322.2 billion common of 4 analysts’ estimates.

Japanese banks are benefiting from rising rates of interest following greater than a decade of ultra-easy financial coverage. Profits are additionally being boosted by good points from offloading shareholdings in consumer firms as a part of efforts to spice up company governance.

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Written by EGN NEWS DESK

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