Fintech Q3 loan disbursement value jumps 46%

Sintech loan disbursements rose 12% year-on-year (YoY) to 2.5 crore in October-December, a report by the Fintech Association for Consumer Empowerment (FACE) showed on Wednesday.

The disbursement value rose 46% to Rs 33,922 crore for the quarter under review.

The report analyses the disbursement data of 37 member companies. The average loan ticket size for loans stood at Rs 11,945. Total assets under management of the fintech industry were at Rs 41,220 crore.

For companies that own non-banking financial companies(NBFCs), 76% of the assets under management is on-balance exposure while the rest is off-balance. Based on data from 28 members, 80% are profitable, the report showed.

Quarterly trends inform us that FACE members are adapting well to the market condition. The scale of 2.5 crore loans, nearing Rs 34,000 crore, reflects strong consumer trust and preference for digital loans, says Sugandh Saxena, chief executive officer, FACE. The industry is on the path to the remarkable milestone of 10 crore loans in FY24, which is no small feat.