Bank Lending Hits Record High in FY 2022

Yomiuri Shimbun file photo
The logo of Japanese Bankers Association is seen in Tokyo, 2021.

TOKYO (Jiji Press) — Outstanding bank lending in Japan hit a record high of ¥565,670.7 billion at the end of fiscal 2022 due to strong funding demand from businesses affected by the COVID-19 pandemic and inflation, the Japanese Bankers Association said Tuesday.

The lending balance grew 4.1% during the year ended last month, up from a 1.2% increase in fiscal 2021, according to the association’s data that covered 110 commercial banks across the country.