Portfolio outstanding of fintech companies grew 92% in 2019: Report

Business loans portfolio outstanding rose 74 per cent from December 2018 to December 2019, as per the report.
Fintech companies saw a growth of 92 per cent in their portfolio outstanding between December 2018 and December 2019, according to a joint report by SIDBI and Equifax.

The report is an analysis of 39 NBFC-fintech (as of December 2019) that submit data to Equifax, a data, analytics, and technology company.

Portfolio outstanding of fintech companies have grown by 92 per cent from Dec'18 to Dec'19, the highest growth rate compared to other lender types, the Fintech Lending report by SIDBI and Equifax showed.

Personal loans were the most preferred loan type disbursed by NBFC-fintech with a market share of 7.35 per cent by number of active loans. Personal loan disbursements by NBFC-fintech companies grew by 110 per cent in 2019 compared to industry average growth of 22 per cent, it said.

During the period, new to fintech (financial technology) credit customers were in the range of 27-33 per cent across quarters.

Business loans portfolio outstanding rose 74 per cent from December 2018 to December 2019, as per the report.

Fintechs' lending in urban and semi-urban geographies accounted for 89 per cent by disbursed amount and 80 per cent by number of loans in 2019, it showed.

The report expects the overall transaction value in the Indian fintech market to go up steeply from around USD 65 billion in 2019 to USD 140 billion in 2023.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel