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By Bloomberg

Mitsubishi UFJ Financial Group Inc.’s third- quarter profit unexpectedly rose 36 percent, led by income from loans abroad and investment banking.

Net income at Japan’s largest bank climbed to 348.3 billion yen ($3 billion) in the three months ended Dec. 31 from 255.2 billion yen a year earlier, figures derived from a nine-month earnings statement showed Tuesday. That beat the 231.9 billion- yen average estimate of six analysts surveyed.

Mitsubishi UFJ joined Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. in refraining from raising full- year profit projections even after the three lenders achieved at least 95 percent of their targets. The banks are expanding lending abroad as falling interest rates triggered by Bank of Japan monetary easing curb loan profitability at home.

“Mitsubishi UFJ maintained its profit structure of overseas businesses covering declines at home,” said Shinichiro Nakamura, a Tokyo-based analyst at SMBC Nikko Securities Inc. “It will certainly meet the full-year net income target.”

Nine-month profit rose 18 percent to 927 billion yen, close to its target of 950 billion yen for the year ending March, Mitsubishi UFJ said. The average forecast of 18 analysts is for 1.03 trillion yen, according to data compiled by Bloomberg.