October 31, 2007

Japan’s top bank Mitsubishi UFJ issues profit warning (AFP)

A businessman walks past Japan's biggest bank, Mitsubishi UFJ Financial Group, which has warned its profits will fall this year as a result of weak income, losses on subprime loans and problems at its credit card subsidiary. Net profits are expected fall by 31.9 percent to 600 billion yen (5.2 billion dollars).(AFP/File/Yoshikazu Tsuno)AFP – Japan’s biggest bank Mitsubishi UFJ Financial Group (MUFG) Wednesday warned of a profit slump this year due to weak income, losses on subprime loans and problems at its credit card subsidiary.


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