TOKYO, Aug 2 (Reuters) - Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest lender by assets, on Monday reported that first-quarter net profit doubled year on year.

MUFG, which owns about 20% of Wall Street investment bank Morgan Stanley, reported profit of 383.1 billion yen ($3.49 billion) for the three months to June 30, against 183.5 billion yen a year earlier.

The bank retained its full-year profit forecast of 850 billion yen. That compared with an average forecast of 859 billion yen from nine analyst estimates compiled by Refinitiv. ($1 = 109.6400 yen) (Reporting by Takashi Umekawa Editing by David Goodman)