OJK: Fintech Lending Loan Disbursements Fall to Rp 13.61 Trillion in October 2021

Fintech lending disbursed Rp 13.61 trillion in October 2021. The Financial Services Authority (OJK) recorded a 4.56% decrease compared to the previous month's Rp 14.26 trillion.

However, fintech lending disbursement increased by 52.06% compared to the same period the previous year. In October 2020, fintech lending disbursement was recorded at Rp 8.95 trillion.

Fintech lending loans were disbursed to 12.95 million borrowers in October 2021. This number of borrowers decreased by 38.65% compared to the previous month. The majority, or 10.23 million borrowers, were from the Java region.

Rp 8.32 trillion in loans, or 61.18%, were allocated to the productive sector. Of this amount, Rp 2.86 trillion was lent to sectors other than miscellaneous business fields.

Loans disbursed to the wholesale and retail trade sector reached Rp 2.02 trillion. Meanwhile, loans to the household sector were recorded at Rp 543.30 billion.

From the lender's perspective, the number of lenders reached 10.47 million entities with a value of Rp 13.52 trillion. Collaboration in loan disbursement by institutional lenders (super lenders) during this period contributed Rp 1.65 trillion from 52 conventional financial institutions.