Japan End-March Bank Lending Hits Record 537 T. Yen

Economy

Tokyo, April 9 (Jiji Press)--Outstanding bank lending in Japan stood at a record 537,075.5 billion yen at the March 31 end of fiscal 2020, up 4.7 pct from a year before, industry data said Friday.

The balance of loans extended by 111 banks hit a record high for the second successive month, jacked up by increases in financing needs and moves to expand cash reserves amid the novel coronavirus crisis, according to the Japanese Bankers Association.

The end-March balance rose 0.2 pct from a month before.

In fiscal 2020, second-tier regional banks logged the steepest lending growth from a year before at 6.9 pct, followed by a 5.3 pct rise posted by major banks, including three megabank lenders.

Financial demand related to the coronavirus crisis has stabilized among large companies, but small businesses outside the Tokyo area may still have strong demand, the association said.

[Copyright The Jiji Press, Ltd.]

Jiji Press