SME Loan Defaults Increase Since the Beginning of 2024

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Adi Ahdiat 22/07/2024 16:50 WIB

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According to OJK data, the Non-Performing Loan (NPL) ratio or the UMKM's bad loan rate increased during January-April 2024, after a decline in the last quarter of last year.

UMKM Credit Value and Non-Performing Loan (NPL) Ratio in Indonesia (January 2022-April 2024)

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UMKM Credit Value and Non-Performing Loan (NPL) Ratio in Indonesia (January 2022-April 2024)

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Non-performing loans (NPLs) in the micro, small, and medium enterprise (MSME) sector have shown an upward trend from January to April 2024, after a decline in the final quarter of last year.

This is evident from Indonesian Banking Statistics data released by the Financial Services Authority (OJK).

According to OJK data, up to April 2024, the total outstanding loan balance for MSMEs reached Rp1,461 trillion (Rp1.46 quadrillion).

Of this amount, Rp62.23 trillion was classified as non-performing loans (NPLs), equivalent to 4.26% of the total outstanding debt.

The 4.26% figure represents the highest UMKM NPL ratio in the last two years, specifically since July 2022, as shown in the graph.

Amidst this situation, the OJK is currently drafting a Government Regulation (RPP) concerning the write-off or cancellation of non-performing loans for MSMEs.

However, there is no definite information on when this regulation will be finalized.

"That RPP [MSME write-off] is currently underway, meaning it's in the finalization stage along with several other RPPs. Hopefully, it can be done more quickly," said Dian Edina Rae, Executive Head of Banking Supervision at the OJK, as reported by Bisnis.com on Friday, June 28, 2024.

Editor : Adi Ahdiat

"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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SME Loan Defaults Increase Since the Beginning of 2024

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