Private credit bureau coverage in Indonesia has undergone significant growth from 0% of the adult population in 2013 to 51.8% in 2023. Post-2017, the coverage saw remarkable year-on-year increases, notably an extraordinary 108.2% growth in 2018, followed by a moderation in growth rates over the subsequent years. For 2023, the year-on-year variation was 6.58%, with a cumulative annual growth rate (CAGR) of 6.34% over the last five years. The projected five-year CAGR from 2024 to 2028 is expected to be 4.06%, anticipating a 22% overall growth in this period, reaching 67.1% by 2028.
Key trends to watch for include the continued digitalization of financial services, regulatory changes impacting data reporting, and growing financial inclusion efforts that may drive further penetration of private credit bureau coverage. Monitoring these trends will be crucial for understanding the future landscape of the credit reporting industry in Indonesia.
