Japanese total bank loan growth slowed to 2.8% YoY in March, down from 3.0% YoY in February and below expectations of a 3.1% YoY increase.

• Bank lending at major banks was up 2.4% YoY, down from 2.9% YoY.
• Total loan growth of foreign banks in Japan fell from 10.0% YoY in February to 9.4% YoY in March.
• Total deposit growth was 0.9% YoY, down from 1.4% YoY.