Japan's largest lender Mitsubishi UFJ Financial Group reported on Wednesday a 32% surge in quarterly net profit, powered by sales of cross-shareholdings and a bump in margins due to higher interest rates in Japan.

Mitsubishi UFJ Financial Group Inc.’s profit jumped in the third quarter, beating estimates and wrapping up a strong earnings season by Japan’s biggest banks.

TOKYO (Reuters) - Japan's largest lender Mitsubishi UFJ Financial Group reported on Wednesday a 32% increase in quarterly net profit.

Mitsubishi UFJ Financial Group, Japan's largest bank, said Tuesday its net profit for the nine-month term jumped 35% on the year to 1.74 trillion yen, a record for the period. For the full year through March, MUFG kept its forecast at 1.75 trillion yen.

Japan’s largest lender Mitsubishi UFJ Financial Group on Tuesday (Feb 4) reported a 32 per cent increase in quarterly net profit. Read more at The Business Times.