Japan's biggest bank Mitsubishi UFJ Financial Group (MUFG) has said its net profit soared 48% in its first financial quarter from a year earlier to 75.94 billion yen ($800m).
The company, which owns a chunk of troubled Wall Street bank Morgan Stanley, returned to profit after ending the last financial year to March in the red to the tune of almost 257 billion yen.
Revenue rose 7.1%, helped by increased income from overseas lending and a boost from making consumer lender Acom a subsidiary.
Japan's top banks were initially seen as relatively immune to the credit crunch, seizing the opportunity to take stakes in troubled Western rivals, but they have since suffered heavy losses on their extensive share portfolios.
MUFG last year bought a 21% stake in Morgan Stanley, throwing the Wall Street giant a $9 billion lifeline last year in the midst of the global financial crisis.
