Mitsubishi UFJ, Japan's biggest bank is back to profit, encouraged by a recovery in the stock market.

The bank reported that for the April to June quarter, it saw a net profit of 75.9bn yen ($794m; £480m), which increased by 24.7% on the similar period a year before.

In the last financial year, it had made a loss of 257bn yen. It is going to make a profit of a 300bn yen present year.

However, it has been announced by rival bank Mizuho that it has suffered a loss of a fourth straight quarterly. It lost 4.5bn yen, as bad loans soured.

Still, Mizuho said that it expected to build a profit in the full year.

Last year, in the financial crisis, Japanese stock markets fell, with the benchmark Nikkei index hitting a near 26-year low in March.

Due to the decline, Japanese banks were hit hard because they own stakes in many companies to build up business ties.