Mitsubishi UFJ Financial Group, Inc. MUFG reported profits attributable to owners of the parent for first-quarter fiscal 2025 (ended Jun 30) of ¥678.1 billion ($4.35 billion), up 21.8% year over year.
Gross profits (before credit costs for trust accounts) for the quarter under review were ¥1.54 trillion ($9.87 billion), up 19.2% year over year. The uptick was mainly driven by higher interest income from loans and a rise in fees related to the solution business and wealth management business.
Results reflected a 40.9% increase in NII, which was ¥823.1 billion ($5.34 billion). Nonetheless, trust fees, along with net fees and commissions, totaled ¥483.1 billion ($3.1 billion), up 20.4%. Net trading profits (including net other operating profits) were ¥229.3 billion ($1.79 billion), down 10.3% year over year.
Mitsubishi UFJ’s total credit costs at the period end were ¥166.7 billion ($1.01 billion), up from ¥41.6 billion witnessed a year ago.
G&A expenses were ¥857.4 billion ($4.79 billion), which increased from ¥684.6 billion reported in the prior-year period.
As of Jun 30, 2024, Mitsubishi UFJ reported period-end loans of ¥122.7 trillion ($762 billion), up 5.1% sequentially. Deposits rose 2% to ¥228.6 trillion ($1.42 trillion) as of Jun 30, 2024, compared with ¥224.04 trillion as of Mar 31, 2024. Total assets were ¥407.3 trillion ($2.53 trillion), up nearly 1% on a sequential basis.
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