Tokyo- Mitsubishi UFJ Financial Group Inc on Wednesday reported a 25.5-per-cent decline in its profit for the past fiscal year because of rising credit costs. It also was the only institution among Japan's largest banks to forecast an earning decrease in the current fiscal year, which began April 1.
Profits for Japan's largest banking group fell to 880.9 billion yen (6.59 billion dollars) in the 2006 fiscal year, largely due to losses at its consumer finance operations.
It said it expected its profits to fall again by 9.2 per cent to 800 billion yen in this fiscal year but forecast a 9.9-per-cent rise in revenues to 6.7 trillion yen.
Its revenues for the past fiscal year soared 41.9 per cent to 6.09 trillion yen.
