Japan's bank lending up 2.3 percent in September

Bank lending was slightly higher compared to the 2.2 percent year-on-year increase in August.


Major, regional, and shinkin banks in Japan saw a 2.3 percent year-on-year growth in bank lending for the month of September, data from the Bank of Japan revealed on Thursday.

The numbers which came in at 528.660 trillion yen, edged up slightly compared to the 2.2 percent increase in August.

Shinkin banks are cooperative regional financial institutions serving small-and-medium-enterprises and local residents. Excluding these trusts, bank lending was up 2.3 percent year-on-year, higher than the 2.2 percent gain in August.

Bank lending from trusts remained unchanged at 2.2 percent for September, the same as the previous month, at 68.904 trillion yen.

Foreign banks, which contributes a smaller portion to total bank lending, boomed with a 49.7 percent increase from a year ago to hit 3.220 trillion yen. For August, this segment expanded by 25.2 percent from a year ago.

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