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Regional banks' loan growth outpaces other Japanese lenders as of September 2018

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Regional banks' loan growth outpaces other Japanese lenders as of September 2018

Loan growth at regional banks in Japan continued to outpace other Japanese banks in the three months ended Sept. 30, 2018.

Regional banks' lending rose 3.42% year over year, while loan growth was 1.07% at major banks, which include the three megabanks Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. Meanwhile, cooperative regional lenders serving small businesses and local residents, known as shinkin banks, reported loan growth of 2.20%.

Japanese regional lenders such as Chiba Bank Ltd. and Shizuoka Bank Ltd. traditionally focused on meeting the financial needs of their home region. But in recent times, these banks have stepped up lending in large metropolitan areas, particularly in mortgage loans, to offset low demand in their home markets. Regional banks have an aggregated market share of about 40% in the country, S&P Global Ratings said Dec. 19, 2018.

The outstanding value of loans in the Japanese banking sector rose 2.30% year over year to ¥528.614 trillion as of Sept. 30, 2018.

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As of Jan. 7, US$1 was equivalent to ¥108.50.

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Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.