Online Loan Disbursements Decline in February 2023

Cindy Mutia Annur 04/04/2023 16:17 WIB

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The Financial Services Authority (OJK) reported that the value of online loan disbursement decreased again in February 2023, reaching Rp18.22 trillion. This figure is a slight decrease of 2.72% compar

Value of Online Loan Disbursements in Indonesia (January 2022–January 2023)

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Value of Online Loan Disbursements in Indonesia (January 2022–January 2023)

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The Financial Services Authority (OJK) reported that the disbursement of fintech lending or online loans decreased to Rp18.22 trillion in February 2023. This figure represents a slight 2.72% decrease month-on-month (mom) compared to the previous month's Rp18.73 trillion.

Despite the decrease, online loan disbursement in February 2023 increased by 10.29% year-on-year (yoy) compared to February of the previous year, which amounted to Rp16.52 trillion.

Online loans in February 2023 were disbursed to 13.39 million borrowers. The number of borrowers decreased by 15.94% month-on-month (mom). The majority, 10.54 million borrowers (78.71% of the national total), were from the Java region.

Rp7.41 trillion, or 40.67%, of the loans were allocated to the productive sector. Of this amount, Rp2.37 trillion was lent to the wholesale and retail trade sector.

Loans to the agriculture, forestry, and fisheries sector reached Rp269.2 billion, followed by Rp87.6 billion to the manufacturing industry, and Rp1.09 trillion to the accommodation and food service sector.

The number of lender accounts reached 10.43 million, with a total of Rp18.39 trillion disbursed. Collaboration in disbursement by institutional lenders (super lenders) during this period contributed Rp4.08 trillion from 1,063 conventional financial institutions.

The trend shows that online loan disbursement in Indonesia has been fluctuating over the past year. The highest disbursement was recorded in March 2022 at Rp23.07 trillion, while the lowest was in February 2022.

Editor : Erlina Fury Santika

"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."