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.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.