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Japanese banks' lending grows 3.3% YOY in July

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Japanese banks' lending grows 3.3% YOY in July

Japan banks' lending grew 3.3% year over year to ¥516.254 trillion in July, the same pace of annual growth in June, preliminary figures from the Bank of Japan showed Aug. 8.

Excluding shinkin banks, or credit unions, lending rose an annual 3.4% to ¥449.218 trillion in July compared with a 3.3% growth previously.

Lending from shinkin banks was up 2.7% year over year to ¥67.036 trillion in July compared with a 2.8% rise in June.

Growth in foreign banks' lending slowed to 0.4% in July from 9.1% in June.

As of Aug. 7, US$1 was equivalent to ¥110.84.