Japan June Bank Lending +0.8%, Up For 9 Months; May +0.4%

TOKYO (MNI) – Outstanding bank loans in Japan rose 0.8% from a year
earlier to Y395.2 trillion in June, posting the ninth straight y/y rise
on a continued gradual recovery in corporate funding demand, Bank of
Japan data released Monday showed.

The June growth in bank lending was higher than +0.4% in May and
+0.3% in April.

In June, outstanding loans by city banks, the largest group of
lenders in Japan, slumped 0.7% from a year earlier, the 32nd consecutive
month of y/y decline after -1.3% in May.

The decrease in lending by city banks was offset by a continued
rise in lending by regional banks, up 2.3% in June versus +2.1% in May.
It was the 25th consecutive y/y rise.

The balance of commercial paper issuance stood at Y9.77 trillion at
the end of June, up 0.2% y/y following a revised 0.4% rise in May.

tokyo@marketnews.com
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