TOKYO: The average balance of bank lending in the country in November, excluding loans by shinkin (credit banks), rose 2.3 percent to ¥428.2 trillion, up for the 50th straight month, the Bank of Japan said Tuesday.
Including shinkin, the total lending balance grew 2.3 percent to ¥492.6 trillion, also up for the 50th consecutive month. Banks continued to boost loans to a wide range of industry sectors, the BOJ said.
In particular, it said, loans for corporate mergers and acquisitions as well as for real estate investment made a major contribution to the overall lending growth.
At major banks, lending rose 0.9 percent, but the pace of increase was the slowest since January 2013. In the previous month, the balance increased 1.4 percent, reflecting sluggishness in foreign-currency dominated loans due to waning positive effects from the yen’s weakening.
Lending in November rose 3.6 percent at regional and second-tier regional banks, unchanged from October. The combined balance of deposits at major, regional and second-tier regional banks advanced 3.2 percent to ¥635.24 trillion, growing for the 103rd month in a row.
