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Bank lending up for 7 years in row

Jiji Press TOKYO (Jiji Press) — Bank lending grew 1.6 percent during fiscal 2017, which ended last month, marking the seventh consecutive year of growth, an industry group said Tuesday.

The outstanding balance of loans at the 116 member banks of the Japanese Bankers Association came in at ¥488,741.5 billion at the end of the year, the group said.

Funding demand from corporate clients was brisk due to the Bank of Japan’s negative interest rate policy.

Loans by 64 regional banks increased 4.1 percent, and those by 41 second-tier regional banks expanded 3.1 percent.

Lending by five major banks dropped 1.4 percent, the second straight year of decline, due to falling public-sector loans.

Overall real deposits, excluding checks and bills, went up 3.5 percent to ¥734,777.4 billion, growing for the 19th consecutive year.Speech

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