Wow! OJK Official Loans Have Disbursed Rp262 Trillion Loans

JAKARTA - The Financial Services Authority (OJK) informed that peer-to-peer lending financial institutions have been recorded to have disbursed loans amounting to Rp262.93 trillion. This value is a recapitulation of funds that have been distributed from 2018 to September 2021.

Head of the OJK 2B IKNB 2B Supervision Department, Bambang W. Budiawan, said that the number of official online loan companies (pinjol) that have obtained legality from the authorities is 104 platforms.

"The number of borrowers is 70.29 million with 22.88 million active accounts," he said in a media briefing that was broadcast virtually on Wednesday, November 17.

According to Bambang, the total assets of loan providers recorded by OJK are Rp. 4.47 trillion, with details of Rp. 4.4 trillion of which are assets of conventional operators. While the other Rp74 billion belongs to sharia administrators.

"The peer-to-peer lending industry was affected by COVID-19 in April 2020. However, it has been able to make a quick recovery since the third quarter of 2020," he said.

Bambang claimed, throughout 2021 the distribution, outstanding, and quality of peer-to-peer lending industry loans continued to experience growth and improvement. According to the data, loan disbursement from January to September this year was IDR 107.03 trillion or up 126 percent from the same period in 2020.

"To improve the quality of the financial industry, especially in peer-to-peer institutions, OJK conducted a moratorium on new operators in February 2020. At that time, the number of organizers reached 161 platforms and has now shrunk to 104 platforms," concluded Bambang.