MUFG's first-quarter profit climbs 48% on higher loan margins

TOKYO, Aug 3 : Mitsubishi UFJ Financial Group booked a 48 per cent jump in first-quarter profit, it said on Monday, as strong loan demand linked to the end of deflation in Japan has boosted earnings across the sector.Japan's largest lender by assets generated 809.4 billion yen ($5.2 billion) in net profit in the April to June quarter, compared with 546 billion yen over the same period a year previously.Japan's banking sector has been among the greatest beneficiaries as the end of deflation has led Japanese firms to borrow to fund investments at home and abroad and finance capital expenditure and mergers and acquisitions.All three of Japan's megabanks – Sumitomo Mitsui Financial Group and Mizuho Financial Group as well as MUFG – posted record annual income last year and have forecast new re