FX.co ★ Japan Overall Bank Lending Climbs 2.7% On Year In September

Bank lending in Japan experienced a year-on-year increase of 2.7% in September, according to data released by the Bank of Japan on Thursday, reaching a total of 624.24 trillion yen. This growth fell short of the anticipated 2.9% rise and was a slight decline from 3.0% in August. When excluding trusts, lending grew by an annual rate of 3.1%, totaling 546.61 trillion yen. Lending by trusts showed a modest increase of 0.6% year-on-year, amounting to 77.62 trillion yen. Notably, lending from foreign banks witnessed a significant surge of 24.8% over the previous year, totaling 5.284 trillion yen. During the third quarter of 2024, overall lending rose 3.0% year-on-year, with lending excluding trusts up by 3.3%, and lending from trusts increasing by 0.6%.