TOKYO, Nov 13 Reuters Mitsubishi UFJ Financial Group Inc MUFG reported on Friday a 34 drop in its halfyear net profit due to a rise in creditrelated costs amid the COVID19 pandemic.
Net profit in AprilSeptember at Japans largest lender by assets, which owns 24 of Wall Street bank Morgan Stanley , came in at 400.8 billion yen 3.82 billion, compared to 607 billion yen a year earlier, according a stock exchange filing.
MUFG raised its profit forecast for the year to endMarch to 600 billion yen from 550 billion yen, compared with the 618.9 billion yen average of 11 analyst estimates, according to Refinitiv data.
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Reporting by Takashi Umekawa; editing by Richard Pullin