Post-Eid al-Fitr, Peer-to-Peer Lending Disbursements Increase in May 2023

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Cindy Mutia Annur 10/07/2023 18:30 WIB

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The Financial Services Authority (OJK) reported that the disbursement value of fintech lending or online loans (pinjol) reached Rp19.62 trillion in May 2023.

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

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

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The Financial Services Authority (OJK) reported that the disbursement of fintech lending or online loans (pinjol) reached Rp19.62 trillion in May 2023.

The disbursement of online loans after the Eid al-Fitr holiday increased by 13.47% month-on-month (mom) from Rp17.29 trillion in the previous month.

However, online loan disbursement in May 2023 decreased by 5.37% year-on-year (yoy).

In May 2023, online loans were disbursed to 13.94 million borrowers. The number of borrowers decreased by 10.02% month-on-month (mom).

The majority, or 10.94 million borrowers, were from the Java region, equivalent to 78.47% of the total national borrowers.

Rp7.29 trillion, or 37.17% of the loans, were disbursed to the productive sector. Of this amount, Rp2.56 trillion was lent to the wholesale and retail trade sector.

Loans to the agriculture, forestry, and fisheries sector reached Rp263.8 billion, the manufacturing industry sector Rp68.39 billion, followed by the accommodation and food service sector at Rp712.6 billion.

On the other hand, the number of lender accounts reached 10.94 million, with a total of Rp19.87 trillion disbursed.

The collaborative disbursement by institutional lenders (super lenders) in May 2023 came from 1,134 conventional financial institutions, with a value of Rp4.94 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."