MUFG Americas Holdings Q4 Profit Declines - Quick Facts

(RTTNews) - MUFG Americas Holdings Corp. (MTU), parent company of San Francisco-based MUFG Union Bank, N.A., announced that net income for the fourth quarter was $155 million, down 13 percent from $179 million in the prior-year quarter, reflecting a decrease in noninterest income and increases in income tax expense and provision for loan losses.

Excluding impact of privatization transaction and merger costs related to acquisitions, adjusted net income for the quarter was $173 million, compared to $193 million last year.

Total revenue for the quarter grew 18 percent to $1.06 billion from $896 million in the same quarter last year.

Net interest income edged up to $709 million from last year's $706 million, while Noninterest income soared 85 percent to $352 million from $190 million in the year-ago quarter.