Japan's bank lending expanded 4.0 percent year-on-year to 408.41 trillion yen (4.44 trillion U.S. dollars), the Bank of Japan (BOJ) said Monday.

The average daily balance of bank lending, excluding that of "shinkin" credit banks, saw a 36th consecutive monthly rise, which the BOJ attributed to a continuing trend for companies to get funds from banks rather than from corporate debt markets.

The combined balance of bank lending, including that of shinkin banks, grew at the fastest pace since January 2001 when the central bank started releasing comparable figures, jumping by 3.7 percent to 472.11 trillion yen (5.13 trillion dollars).

Source: Xinhua