West Java Residents' Online Loan Debt Reaches Rp15 Trillion, Highest in Indonesia
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According to a report by the Financial Services Authority (OJK), in July 2023, there were approximately 20.36 million online loan recipients (pinjol) throughout Indonesia.
These borrowers had a total outstanding loan value of Rp55.97 trillion.
In July 2023, West Java had the highest national outstanding online loan, reaching Rp15.24 trillion. This is equivalent to 27.22% of the total online loan debt nationwide.
DKI Jakarta ranked second with online loan debt of Rp11.36 trillion, or 20.29% of the national total.
Other provinces with significant online loan debt at the national level include East Java, Banten, Central Java, North Sumatra, South Sumatra, South Sulawesi, Lampung, and Yogyakarta, with details as shown in the graph.
Meanwhile, West Papua had the lowest national online loan debt in July 2023, at only Rp62.02 billion. It was followed by North Maluku and North Kalimantan with online loan debts of Rp62.73 billion and Rp68.24 billion, respectively.
Here are the details of the 10 provinces with the highest outstanding online loan values in Indonesia as of July 2023:
1. West Java: Rp15.24 trillion
2. DKI Jakarta: Rp11.36 trillion
3. East Java: Rp6.78 trillion
4. Banten: Rp4.88 trillion
5. Central Java: Rp4.44 trillion
6. North Sumatra: Rp1.54 trillion
7. South Sumatra: Rp1.06 trillion
8. South Sulawesi: Rp1.02 trillion
9. Lampung: Rp859.36 billion
10. Yogyakarta: Rp852.96 billion
In July 2023, Indonesian online loan users cumulatively had a 90-day repayment rate (TKB90) of 96.53%. This means that approximately 97 out of 100 online loan users successfully repaid their debts within 90 days of the due date.
On the other hand, the proportion of 90-day default rate (TWP90) was only 3.47%. This means that about 3 out of 100 online loan users failed to repay their debts within 90 days of the due date.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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