— Japan Nov Bank Lending +0.2% Y/Y Vs Oct +0.1%>}
TOKYO (MNI) – Outstanding bank loans in Japan rose 0.2% from a year
earlier in November, posting the second consecutive year-on-year rise,
as corporate funding demand continues recovering gradually, Bank of
Japan data released Thursday showed.
Bank lending rose 0.2% on the year to Y392.9 trillion in November,
after rising 0.1% in October, which was the first y/y rise in 23 months,
and falling 0.3% in September.
Corporate fund demand has increased gradually, reflecting
reconstruction needs after the March earthquake disaster.
Funding demand for day-to-day business operations remained solid,
pushing up bank loans to firms, but fund demand for capital spending was
still sluggish, a BOJ official said.
In November, outstanding loans by city banks, the largest group of
lenders in Japan, fell 1.3% from a year earlier, the 24th consecutive
month of y/y drop after -1.6% in October.
The decreases in lending by city banks was offset by a continued
rise in lending by regional banks, up 1.9% in November, after rising
1.8% in October.
The balance of commercial paper issuance stood at Y9.85 trillion at
the end of November, down 2.3% y/y following a 8.7% fall in October.
tokyo@marketnews.com
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