— Japan July Bank Lending Posts 10th Straight Y/Y Rise
— July’s +1.0% Y/Y Highest Since +1.5% in Oct 2009
TOKYO (MNI) – Outstanding bank loans in Japan rose 1.0% from a year
earlier to Y396.4 trillion in July, posting the 10th straight y/y rise
on a continued gradual recovery in corporate funding demand, Bank of
Japan data released Wednesday showed.
The July growth in bank lending followed +0.8% in June and was the
highest since October 2009, when it was up 1.5%.
In July outstanding loans by city banks, the largest group of
lenders in Japan, fell 0.5% from a year earlier, the 33rd consecutive
month of y/y decline after -0.7% in June.
The decrease in lending by city banks was offset by a continued
rise in lending by regional banks, up 2.4% in July versus +2.3% in June.
It was the 26th consecutive y/y rise.
The balance of commercial paper issuance stood at Y9.96 trillion at
the end of July, down 3.5% y/y following a 0.2% rise in June.
tokyo@marketnews.com
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