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Japan Bank Lending Growth Accelerates to 5.4% In April

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Japan's bank lending growth accelerated in April, with total loans and discounts at major, regional and shinkin banks rising 5.4% year-over-year to 670.647 trillion yen, according to preliminary data released by the Bank of Japan on Wednesday.

The pace of growth accelerated from the 4.8% expansion in March. Loans at major and regional banks alone rose 6% to 591.079 trillion yen.

Major banks led the increase, with lending climbing 8% to 275.081 trillion yen, while regional banks posted 4.3% growth to 315.998 trillion yen. Foreign banks' yen-denominated lending rose 29% to 7.489 trillion yen.

On the deposits side, deposits and certificates of deposit at city, regional and shinkin banks rose 1.9% year over year to 1,080.719 trillion yen in April.

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