— Japan Aug Bank Lending Posts 11th Straight Y/Y Rise
— Aug’s +1.1% Y/Y Remains Highest Rise Since +1.5% in Oct 2009
TOKYO (MNI) – Outstanding bank loans in Japan rose 1.1% from a year
earlier to Y396.4 trillion in August, posting the 11th straight y/y rise
on a continued gradual recovery in corporate funding demand, Bank of
Japan data released Monday showed.
The August growth in bank lending followed a revised +0.9% in July
and remained the highest increase since October 2009, when it was up
1.5%.
In August, outstanding loans by city banks, the largest group of
lenders in Japan, fell 0.4% from a year earlier, the 34th consecutive
month of y/y decline after -0.5% in July.
The decrease in lending by city banks was offset by a continued
rise in lending by regional banks, up 2.6% in August versus +2.4% in
July. It was the 27th consecutive y/y rise.
The balance of commercial paper issuance stood at Y9.54 trillion at
the end of August, down 2.9% y/y following a 3.5% fall in July.
tokyo@mni-news.com
** MNI Tokyo Newsroom: 81-3-6860-4822 **
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