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Financial News: Japan Overall Bank Lending Spikes 4.8% In May

Japan Overall Bank Lending Spikes 4.8% In May

06/07/2020 - 20:05:00 (RTTNews)

(RTTNews) - The value of overall bank lending in Japan was up 4.8 percent on year in May, the Bank of Japan said on Monday - coming in at 562.546 trillion yen.

That far surpassed expectations for an increase of 3.2 percent following the downwardly revised 2.9 percent gain in April (originally 3.0 percent).

Excluding trusts, bank lending jumped an annual 5.1 percent to 491.468 trillion yen - up from the 3.1 percent yearly gain in the previous month.

Lending from trusts gained 2.7 percent on year 70 71.077 trillion yen - up from the 1.6 percent gain a month earlier. Lending from foreign banks advanced 12.2 percent to 3.301 trillion yen, slowing from the 25.6 percent spike in April.

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