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23 May, 2021 Author Yuzo YamaguchiCheska Lozano
Japanese megabanks are facing weakening credit quality of domestic borrowers, in addition to lingering default risk of their overseas operations, after reporting the highest nonperforming loan ratios in more than three years for the March-end quarter.
Mitsubishi UFJ Financial Group Inc., or MUFG, which derives more income from lending outside Japan than the two other megabanks, reported the highest NPL ratio among the trio in the fiscal fourth quarter ended March 31. Its bad loan ratio stood at 1.25%, the highest since the October-December quarter in 2017, and up from 1.00% a year earlier, according to data from S&P Global Market Intelligence.