Will Negative Rates Hit Mitsubishi UFJ'S (MTU) Q2 Earnings?
Zacks Investment Research | Nov 11, 2016 03:55AM ET
Mitsubishi UFJ Financial Group, Inc. (NYSE:MTU) is scheduled to report its second-quarter fiscal 2017 (ended Sep 30) results on Nov 14.
The Japanese banking giant – Mitsubishi UFJ – had reported profits attributable to owners of parent of ¥188.9 billion ($1.75 billion) for first-quarter fiscal 2017 (ended Jun 30), down 32% year over year. Results were affected by lower net interest income and higher credit costs. However, fall in general & administrative expenses acted as a tailwind.
Year to date, Mitsubishi UFJ lost around 14% on the NYSE.
MITSUBISHI-UFJ Price
the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here .
Among other foreign banks, Royal Bank of Canada (NYSE:RY) , The Toronto-Dominion Bank (TO:TD) and Bank of Montreal (TO:BMO) are expected to release results on Nov 30, Dec1 and Dec 6, respectively.
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