Japanese bank lending hit a record high in July as regional lenders continued to boost loans to small firms hit by the coronavirus pandemic, central bank data showed on Tuesday.
FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon
Total lending by banks and “shinkin” credit unions rose 6.3% in July compared with a year earlier, hitting a record 572.7 trillion yen, and accelerating from a 6.2% gain in June, BOJ data showed.Major banks’ lending was up 7.8% in July, slowing from a 8.6% gain in June. Lending by regional banks grew 5.1%, accelerating from a 4.7% increase in June and matching a record high in 1991, the data showed.
“Lending to smaller firms continues to rise as borrowers tap cheap loans with government guarantees, though the pace of increase will likely slow ahead,” the official said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus cases among U.S. children jumped 40% in late JulyThe report, which aggregates data from 49 states, comes amid heated debate over whether schools should reopen in the fall amid the coronavirus crisis.
Read more »
China's factory deflation slows in July as recovery gains strengthChina's factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world's second-largest economy.
Read more »
The Best of Epicurious: July 2020These are the essays, reviews, and recipes that made July 2020 a defining month for us.
Read more »
‘Hamilton’ Far Bigger Than Anything on Netflix in July, Audience Data RevealsThe musical was watched in July on Disney+ by almost three times the number of people who watched the second widest-reaching title of that month, Netflix’s true-crime docuseries “Unsolved Mysteries…
Read more »
TSA: July air travel down 75% from 2019 but gun confiscation rates tripleThe TSA reported a higher rate of gun confiscations in July compared with last year despite fewer travelers.
Read more »