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During Ramadan, Online Loan Disbursements Increased to Rp19.73 Trillion in March 2023

Cindy Mutia Annur 08/05/2023 13:07 WIB

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The Financial Services Authority (OJK) report shows that the value of fintech lending or online loans reached Rp19.73 trillion in March 2023. This figure is up 8.28% from the previous month.

Value of Online Loan Disbursement in Indonesia (March 2022–March 2023)

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Value of Online Loan Disbursement in Indonesia (March 2022–March 2023)

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The Financial Services Authority (OJK) report shows that the disbursement of fintech lending or online loans reached Rp19.73 trillion in March 2023. The disbursement of loans during Ramadan increased by 8.28% month-on-month (mom) from Rp18.22 trillion in the previous month.

However, online loan disbursement in March 2023 decreased by 14.47% year-on-year (yoy). In March 2022, online loan disbursement amounted to Rp23.07 trillion.

In March 2023, online loans were disbursed to 14.34 million borrowers. The number of borrowers decreased by 7.09% mom. The majority, or 11.27 million borrowers, were from Java, equivalent to 78.59% of the national total.

Furthermore, Rp7.89 trillion, or 39.97% of loans, were given to the productive sector. Of this amount, Rp2.64 trillion was lent to the wholesale and retail trade sector.

Loans to the agriculture, forestry, and fisheries sector reached Rp268.85 billion, followed by loans to the manufacturing industry at Rp70.13 billion, and to the accommodation and food service sector at Rp780.67 billion.

A total of 10.84 million lender accounts were recorded, with a total of Rp19.96 trillion disbursed. The disbursement collaboration by institutional lenders (super lenders) in March 2023 contributed Rp4.87 trillion from 1,057 conventional financial institutions.

The trend shows that online loan disbursement in Indonesia has been fluctuating over the past year. The highest online loan disbursement was recorded in March 2022 at Rp23.07 trillion, while the lowest was in April 2022 at Rp17.91 trillion.

Editor : Padjar Iswara

"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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During Ramadan, Online Loan Disbursements Increased to Rp19.73 Trillion in March 2023

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During Ramadan, Online Loan Disbursements Increased to Rp19.73 Trillion in March 2023

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