Eight Online Lending Platforms Under Special Supervision by OJK
The Financial Services Authority (Okersitas Jasa Keuangan, OJK) has revealed that eight online lending (pindar) providers are currently under special supervision. This action was taken due to capitalisation issues and/or high aggregate non-performing loan rates (TWP90) among these providers.
Agusman, the Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions at OJK, stated that every provider under special supervision will first be directed to take remedial steps in accordance with regulations. This includes meeting minimum capital requirements and improving financing quality before further actions are taken based on OJK’s supervisory findings, which may include the revocation of business licences.
In general, OJK noted that 14 out of 94 online lending providers have not yet met the minimum equity requirement of Rp12.5 billion. Agusman explained that a provider’s ability to meet this minimum equity requirement is influenced by business conditions and characteristics, including performance, business prospects, and capital strategies such as capital increases by shareholders, the entry of new investors, or corporate actions like mergers, all of which consider risk profiles and market conditions.
He added that governance and business models are crucial factors for investors when assessing capital adequacy. Consequently, all providers are encouraged to continuously strengthen governance, risk management, and compliance with applicable regulations to enhance investor confidence and strengthen industry resilience and consumer protection.
Regarding credit quality, OJK noted that 19 online lending providers had a TWP90 rate above 5 per cent as of April 2026. According to Agusman, the change in the number of providers with a TWP90 above 5 per cent is influenced by financing quality and the borrowers’ ability to repay.
“The TWP90 for the online lending industry is expected to remain stable in the future, despite being influenced by economic dynamics and the risk management quality of each provider,” Agusman said in a written response on Sunday, 7 June 2026.
To maintain TWP90 levels, online lending providers are encouraged to strengthen risk management, implement data-based credit scoring, and enhance collection processes and prudential principles. Meanwhile, outstanding financing in April 2026 grew by 26.11 per cent year-on-year, reaching Rp102.07 trillion, with the TWP90 recorded at 4.62 per cent.
During the same period, the online lending industry recorded significant annual profit growth of 71.43 per cent year-on-year, reaching Rp0.96 trillion. From the funding perspective, banking lenders still dominate, accounting for Rp66.25 trillion or a share of 75.59 per cent, driven by substantial funding capacity and liquidity stability. Meanwhile, individual lenders were recorded at Rp3.33 trillion.
“Funding sources for the online lending industry will become increasingly diverse, coming from both individual and institutional lenders. In line with the strengthening role of professional lenders, providers also have the potential to expand their funding base from institutional lenders to support the quality and sustainability of funding in the online lending industry,” said Agusman.