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Japanese May bank lending up 3.2% YOY

Japanese banks' lending rose 3.2% annually to stand at ¥513.269 trillion in May, Bank of Japan preliminary figures showed June 8.

The annual rate of expansion was 0.2 percentage point lower than in both April and March. Total lending, excluding shinkin, or credit unions, was ¥446.593 trillion in May. The shinkin banks' lending grew 2.9% annually in the month, 0.1 percentage point higher than April's annual growth.

A 13.1% jump in foreign banks' lending was seen year on year in May, compared to revised 14.6% growth the month before.

As of June 7, US$1 was equivalent to ¥109.34.