Bank lending in Japan grew 2.8% annually during June

The Central Bank of Japan’s statements issued today, Tuesday, showed the growth of the country’s bank lending during the past month by 2.8% annually, to 634,746 trillion yen (4.37 trillion dollars), which increased the expectations of analysts and the rate of growth in the previous month.

Analysts expected bank lending during the past month by 2.3%, after growing by 2.4% during last May.

During June, bank lending increased by 3% annually to 561,432 trillion yen, while lending from savings funds increased during the past month by 1.3% to 78.144 trillion yen.

Endowment from foreign banks operating in Japan increased during the past month by 26.2% to 5.3 trillion yen, after increasing 25.7% during the previous month.

The total bank lending in Japan during the second quarter of this year as a whole was growing at a rate of 2.5% annually.