Japan bank lending up 3.3% in February

Average outstanding amount totalled JPY598.9t for the month.

The amount of loans held by banks in Japan rose faster in February compared to a year ago, according to official figures released by the Bank of Japan (BOJ).

The average outstanding amount for February 2023 totalled over JPY598.9t (over $4.38t) for the month. This is 3.3% higher than in February 2022, and rising faster than in January’s figures, when the amount of loans held by banks rose by 3.1%.

Major banks reported a 4% rise in loans, to JPY239.4t (approximately $1.78t). 

Foreign bank lending rose 11.1% to JPY3.74t (approximately $27.86t) over the same period.

($1 = JPY134.54)