Earnings Call Summary | Mitsubishi UFJ Financial Group(MUFG.US) Q4 2024 Earnings Conference

Futu News ·  May 18 17:37  · Conference Call

The following is a summary of the Mitsubishi UFJ Financial Group, Inc. (MUFG) Q4 2024 Earnings Call Transcript:

Financial Performance:

  • MUFG reported a year-on-year increase in gross profits by ¥229.5 billion, partly due to a rise in net fees and commissions by ¥130 billion.

  • The company decreased G&A expenses by ¥19.9 billion year-on-year, attributing this to effective expense control and fewer expenses related to the sale of MUB.

  • Net operating profit reached a historic high at ¥1,843.7 billion, while net income attributable to owners was up by ¥374.2 billion to ¥1,490.7 billion.

  • Total credit costs were ¥497.9 billion, indicating a rise due to overseas allowances and individual company factors.

  • The Return on Equity (ROE) was at 8.5%; excluding the change in closing date of Morgan Stanley, the ROE was 8.1%.

Business Progress:

  • All of MUFG's customer business segments saw an increase in net operating profit.

  • The new medium-term business plan (MTBP) aims to reduce the market value to consolidated net assets ratio to less than 20% by the end of the next MTBP period.

  • Under the new MTBP, MUFG aims to achieve a Return on Equity (ROE) of around 9% by the final year and maintain an expense ratio of around 60% in FY '26.

  • The company is focusing on growth strategies and driving social and environmental progress.

  • MUFG targets to maintain the CET1 ratio around 10% and is considering new strategic investments in India.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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