Cross-Border Bank Credit Hits $39.5 Trillion at End-March 2026

The Bank for International Settlements (BIS) released its latest international banking statistics and global liquidity indicators at end-March 2026. The data shows that cross-border bank credit rose by 11% year-on-year, maintaining strong momentum from the previous year.

The expansion was broad-based across instruments and counterparty sectors, with credit to banks increasing by $632 billion in Q1 2026, reaching its highest annual growth rate since the onset of Covid-19. Credit to non-bank borrowers also rose significantly, with a $1.1 trillion increase in Q1 2026.

The BIS also reported that cross-border bank credit to emerging market and developing economies expanded by $148 billion in Q1 2026, primarily concentrated in Africa and the Middle East and emerging Europe. The global liquidity indicators exhibited robust growth in foreign currency credit denominated in US dollars and euros, with euro-denominated credit expanding at a relatively faster pace.