Indonesia's Peer-to-Peer Lending Debt Surpasses Rp100 Trillion, Here's the Bad Debt Figure

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) has revealed that financing continues to grow, with the outstanding online loan balance having surpassed Rp100 trillion.

Additionally, OJK has recorded that 8 out of 144 Financing Companies have not met the minimum equity obligation of Rp100 billion, and 11 out of 94 P2P Lenders have not met the minimum equity obligation of Rp12.5 billion.

The Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions at OJK, Agusman, stated that all these Financing Companies and P2P Lenders have submitted action plans to OJK outlining steps to meet the minimum equity requirements.

These action plans include, among others, additional paid-in capital from existing shareholders, seeking strategic investors, and/or merger efforts.

Receivables Grow Slowly, P2P Lending Rises Rapidly

In terms of performance, the financing receivables of Financing Companies (PP) grew by 0.61% year-on-year in March 2026 (February 2026: 0.78% yoy) to Rp514.09 trillion, supported by working capital financing that increased by 6.15% yoy.

The risk profile of Financing Companies (PP) remains stable, with the gross Non-Performing Financing (NPF) ratio recorded at 2.83% (February 2026: 2.72%) and net NPF at 0.8% (February 2026: 0.82%). The gearing ratio for PP rose to 2.17 times (February 2026: 2.11 times) and remains below the maximum limit of 10 times.

In the online lending industry (P2P) - previously known as pinjol - the outstanding financing in March 2026 grew 26.25% yoy (February 2026: 25.52% yoy), with a nominal value of Rp101.03 trillion. The aggregate bad credit risk level (TWP90) remains controlled at 4.52% in March (January 2026: 4.38%).