Lending growth at banks failed to accelerate for the second straight month in August as the economy moved closer to a recession and rising bankruptcies among real-estate companies forced banks to cut earnings forecasts, Bank of Japan data showed Monday.
Loans excluding those by credit associations rose 2 percent in August from a year earlier after expanding at the same pace in July, the BOJ said. Lending by the 10 city banks, including Mitsubishi UFJ Financial Group Inc., rose 1 percent, the same as the previous month. It was the fourth consecutive gain.
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