Mitsubishi UFJ Financial Group , Japan’s top lender by assets, this week raised its annual net profit forecast to a record 1.75 trillion yen ($11.23 billion) after second-quarter profit surged on higher interest rates and the sale of cross-held shares.
Group net profit for the July-September period came to 702 billion yen, up 90 per cent from 369 billion yen in the year-earlier quarter.
The bank had previously forecast a full-year net profit of 1.5 trillion yen.
