Online Loan Disbursements Reach Rp18 Trillion in May 2022

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Cindy Mutia Annur 06/07/2022 13:50 WIB

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Online lending or fintech peer-to-peer (P2P) lending disbursement reached Rp18.62 trillion in May 2022, up from the previous month.

Total Online Loan Disbursements (May 2021 - May 2022)

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Total Online Loan Disbursements (May 2021 - May 2022)

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According to a report by the Financial Services Authority (OJK), the disbursement of online loans or peer-to-peer (P2P) lending fintech reached Rp18.62 trillion in May 2022.

This disbursement value increased by 3.96% (month-on-month/mom) compared to April 2022, which amounted to Rp17.91 trillion.

Year-on-year (year-on-year/yoy), loan disbursement increased by approximately 41.48% compared to May 2021, which totaled Rp13.16 trillion.

In May 2022, online loans were disbursed to 18.05 million borrowers. The number of borrowers increased by 30.98% (mom) compared to the previous month. A majority, 14.94 million borrowers, were from the Java region.

Rp7.28 trillion in loans, or 39.13%, were given to the productive sector. Of this amount, Rp2.45 trillion was lent to the wholesale and retail trade sector.

Loans disbursed to the agriculture, forestry, and fisheries sector reached Rp117.40 billion. Meanwhile, loans to the manufacturing industry were recorded at Rp78.75 billion.

On the lender side, the number reached 10.59 million entities with a value of Rp18.26 trillion. The collaboration in loan disbursement by institutional lenders (super lenders) during this period was contributed by 234 conventional financial institutions totaling Rp2.58 trillion.

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."