Jul
26

Japan Banks Seen Reporting Gains in Fees, Overseas Lending

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Mitsubishi UFJ Financial Group Inc. probably led a slight increase in first-quarter profit at Japan’s biggest banks as gains in fee income and overseas lending made up for shrinking loan profitability at home.

Combined net income at Mitsubishi UFJ, Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. rose 1 percent to 632.1 billion yen ($5.1 billion) in the three months ended June, according to the average estimate of six analysts surveyed by Bloomberg before earnings reports due July 31.

The Tokyo-based banks have announced acquisitions abroad worth about $6 billion this year as low interest rates in Japan continue to squeeze margins. They are also stepping up domestic sales of investment products as people begin shifting some of their savings to riskier assets amid a stock-market rally…

Japan Banks Seen Reporting Gains in Fees, Overseas Lending

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