Top Japan banks' profits set record pace on higher lending rates

Full effect of BOJ's policy changes yet to be seen, MUFG chief says

20231114N banks montage

Japan's five biggest banking groups are on track to record combined profits in the fiscal year ending March 2024. (Source photos by Nikkei)

Nikkei staff writers

TOKYO -- Profits at Japan's five biggest banking groups rose 56% on the year to about 2 trillion yen ($13.3 billion) in the April-September half as they reaped healthier margins on loans.

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