Lending by Japanese banks fell 4.5 percent in May from a year earlier, down for the 53rd consecutive month, the Bank of Japan said Monday.
The average daily lending balance for the month came to 488.02 trillion yen, remaining below the 500 trillion yen line for two straight months, the central bank said in a preliminary report.
The drop was attributed to weak fund demand from businesses and the reluctance of banks to lend because of their focus on disposing of bad loans, analysts said.
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