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UnionBanCal net income up rises in Q2

San Francisco-based UnionBanCal, a member Mitsubishi UFJ Financial Group, has reported a net income of $242m for the second quarter of 2011, compared to $154m for the same period in 2010.

The bank said improvement in net income compared with the prior quarter was primarily driven by lower noninterest expense.

For second quarter of 2011, noninterest income was $240m, compared to $244m in the same corresponding quarter of the 2010.

Total revenues were $1.71bn for the second quarter of 2011, compared to $1.62bn for the same period in 2010.

The total assets in the second quarter of the 2011 were $80.1bn, compared to $84.3bn in the same period an year ago.