Japan’s largest lender by assets, Mitsubishi UFJ Financial Group posted a 70.5 per cent decline in second-quarter net profit.
The huge loss can be attributed to another one-off loss related to the sale of U.S. unit MUFG Union Bank.
The Japanese bank maintained its full-year profit forecast of 1 trillion yen, a 12 per cent drop from the previous year when it posted a record profit.
Meanwhile, Refinitiv had gathered the forecast estimates from analysts that the average estimate is around 1.04 trillion yen.
Mitsubishi UFJ posted a net profit of 117.41 billion yen (USD841.83 million) for the July-September period, as compared to 398.4 billion yen a year earlier.
The lender also owns Morgan Stanley 22% of Morgan Stanley.