Japan Bank Lending Growth Stalls in September, Missing Forecasts

MT Newswires Live08:08

Japan's bank lending growth steadied in September, with total loans and discounts at major, regional, and shinkin banks rising 5.3% year over year to 682.0 trillion yen, according to preliminary data released by the Bank of Japan on Tuesday.

The pace of growth was unchanged from the downwardly revised 5.3% expansion in August, and missed the consensus forecast of 5.5%, tracked by Investing.com.

Loans at major and regional banks alone rose 5.7%, versus 5.8% the previous month, with major bank loans climbing at a softer rate of 7.7% versus 7.8% in August. At regional banks, loans climbed 4.1%, unchanged from the prior month.

Foreign banks' yen-denominated lending edged up 14.5% to 7.628 trillion yen. The pace of expansion weakened from 25.6% in August.

On the deposits side, deposits and certificates of deposit at city, regional, and shinkin banks rose 1.6% year over year to 1,072 trillion yen in September, also unchanged from the growth rate the previous month.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment