|Bid||4.6600 x 21500|
|Ask||5.9000 x 29200|
|Day's Range||4.7100 - 4.7800|
|52 Week Range||4.4900 - 6.4700|
|Beta (3Y Monthly)||0.98|
|PE Ratio (TTM)||5.55|
|Forward Dividend & Yield||0.20 (4.25%)|
|1y Target Est||7.77|
NEW YORK , Aug. 2, 2019 /PRNewswire/ -- Leading global investment manager First State Investments today announced the completion of its sale from Commonwealth Bank of Australia to Mitsubishi UFJ Trust ...
Mitsubishi UFJ Financial Group (MUFG) reports impressive earnings for first-quarter fiscal 2019 (Jun 30, 2019), driven by low credit costs and higher gross profits.
Mitsubishi UFJ Financial Group Inc. recently opened a new office in Charlotte as part of a plan to establish an eastern U.S. hub and create about 300 jobs here.
(Bloomberg) -- Japanese banks have spent more than three years trying to flee negative interest rates at home by ramping up lending abroad. Now their escape routes are closing.Declining global rates are buffeting the country’s three largest lenders as they prepare to post fiscal first-quarter results next week. And with central banks around the world now in monetary easing mode, financial firms are growing concerned that the Bank of Japan may loosen policy further.“There is a limit to what banks can do to cope” with negative rates, Japanese Bankers Association Chairman Makoto Takashima said earlier this month.That bodes ill for Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc., which have about a third of their loans abroad. What’s more, the Tokyo-based banks face rising bad-loan costs and diminishing gains from selling shares held in their corporate clients – factors that had been propping up earnings as loan profitability eroded.The triple-whammy of low global rates, rising provisions and limited stock gains mean first-quarter results “will probably be subdued and may set the tone for the rest of the year,” said Francis Chan, a Bloomberg Intelligence banking analyst.Read how a return to easy money is slamming global banksShares of the three banks fell less than 1% on Friday morning in Tokyo. Sumitomo Mitsui is the best performer this year, climbing 4.9%, while Mizuho has slid 7.9% and MUFG is down 2%.The charts below illustrate the banks’ predicament heading into this earnings season. Sumitomo Mitsui will kick off reporting on Tuesday, followed by MUFG and Mizuho the following day.Record-Low RatesThe squeeze on banks’ domestic lending profitability got even worse last quarter. The average interest rate on new loans tumbled to a record-low 0.576% in May, Bank of Japan data show, and 10-year Japanese bond yields have been negative almost all year.Not All BadTo be sure, the drop in interest rates abroad isn’t entirely bad news because it will allow the banks to book gains on their foreign bond holdings in the short term, said Rie Nishihara, an analyst at JPMorgan Chase & Co. in Tokyo. She predicts the lenders will achieve at least 25% of their full-year profit targets during the period.MUFG and Mizuho expect net income to rise in the fiscal year through March -- but only because they booked hefty writedowns in the last quarter of the previous year. Sumitomo Mitsui is forecasting a profit decline.Rising Credit CostsIn recent years, Japanese banks booked profits from clawing back loan-loss provisions that weren’t needed because of gradually improving economic conditions. While it’s unlikely that loan quality will suddenly deteriorate, those reversals have now reached their limit and it’s time to replenish reserves.“One thing that should make their lives more difficult will be rising credit costs,” said Michael Makdad, an analyst at Morningstar Inc. in Tokyo.Stock Sale GainsJapanese banks have been trimming their so-called cross-shareholdings in recent years following government efforts to loosen cozy ties between lenders and their corporate clients. They initially booked healthy gains when stocks were rallying, but those are likely to diminish because Japan’s equity market recovery has faded.(Updates with shares in the sixth paragraph)To contact the reporters on this story: Taiga Uranaka in Tokyo at email@example.com;Yuki Hagiwara in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Marcus Wright at email@example.com, Russell WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
For the second quarter, UBS Group (UBS) reports rise in fees and commissions and fall in expenses, partially offset by lower interest income.
With high-profile breaches and data controversies becoming more commonplace, OKTA co-founder Frederic Kerrest told Yahoo Finance that companies have to be more proactive.
Mitsubishi UFJ Financial Group, Inc. hereby announces that it has filed its Annual Report on Form 20-F for the fiscal year ended March 31, 2019 with the U.S.
LOS ANGELES, July 2, 2019 /PRNewswire/ -- Union Bank has been named the Best Regional Bank for the West region in Kiplinger's Personal Finance's third annual rankings of "The Best Banks for You" in the U.S. To identify top picks, the magazine selected a winner among national and internet banks, credit unions, and the best bank in each of three regions, as well as top institutions in a number of personalized categories. "We are very pleased to be recognized as the leading bank in the West by Kiplinger's," said Tim Wennes, West Coast President and Head of the Regional Bank for Union Bank. In creating its Best Banks of 2019 list, Kiplinger's studied data for 44 national and regional banks, 14 credit unions, and 15 online banks.
Mitsubishi UFJ (MUFG) is likely to incur loss on its first deal as sole underwriter, as it continues to lower price of the bonds purchased from CNX Resources.
MUFG is pleased to announce today that Mr. George Yeo, a former Singaporean Minister for Foreign Affairs with an MBA from Harvard University, has been appointed to its Global Advisory Board.
Citigroup's (C) lack of internal control measures, as stated by the Financial Services Agency, results in a ban on the company from availing some special auction participation entitlements.
New Managing Director to Oversee Supplier Acquisition, On-Boarding NEW YORK , June 10, 2019 /PRNewswire/ -- Mitsubishi UFJ Financial Group (MUFG), Inc., one of the world's leading financial institutions, ...
Japan's Mitsubishi UFJ Financial Group is offering voluntary redundancy packages to 500 managing directors and directors in its London office, a source familiar with the matter said on Friday. The plan aimed to reduce costs and streamline a workforce that had too many senior managers, the source said. Japan's biggest bank by assets set a more bullish tone in November 2017, when Reuters reported it had hired more than 180 staff in the British capital that year and was set to bring on board more as it sought to expand its business in Europe.
NEW YORK, May 30, 2019 /PRNewswire/ -- Mitsubishi UFJ Financial Group (MUFG), Inc., today announced that its Project Finance team in the Americas added to its impressive list of recent honors by capturing six of Power Finance & Risk's 2018 industry awards, including one for Louise Pesce, who was named Project Finance Banker of the Year.
DENVER, May 29, 2019 /PRNewswire/ -- EnerCom is pleased to announce that legendary oilman Harold G. Hamm, chairman and CEO of Continental Resources (CLR), will take the stage for a discussion about U.S. shale and look at the prospects for U.S. oil and gas exploration in a "fireside chat" Tuesday, August 13, 2019, during EnerCom's The Oil & Gas Conference® in downtown Denver's Westin hotel.