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Japan bank lending rose 2.0% YOY in May

Japanese banks' lending rose by 2.0% year over year to ¥523.137 trillion in May following a 2.1% increase in April, preliminary data from the Bank of Japan showed.

Excluding shinkin banks, or credit unions, lending was up an annual 1.9% in May to ¥454.950 trillion after a 2.0% increase in April.

Lending from shinkin banks saw an annual rise of 2.3% to ¥68.188 trillion in May, matching the 2.3% increase in the previous month.

As of June 7, US$1 was equivalent to ¥109.99.