June 2019, Fintech Loan Disbursements Grow Almost Fivefold

By June 2019, the cumulative disbursement of peer-to-peer (P2P) lending by financial technology (fintech) companies reached Rp 44.81 trillion. This loan value grew by 487.15%, or almost fivefold, compared to Rp 7.63 trillion in June 2018.

According to the June 2019 Fintech Statistics released by the Financial Services Authority (OJK), the disbursement of P2P lending fintech loans increased by 97.68% compared to the end of 2018. Disbursement was still dominated by Java, reaching Rp 38.49 trillion by June 2019, or 86% of the total loans. Compared to the same period last year, fintech loan disbursement in Java grew by 473.6%.

Fintech loan disbursement outside Java reached Rp 6.32 trillion by June 2019, or 14% of the total. This figure shows a growth of 586.9% compared to Rp 919.59 billion in June 2018.

(Read Databoks: April 2019, Fintech Loan Disbursement Reaches Rp 37 Trillion)