Number of Under-Capitalised Multifinance Companies Doubles

Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has recorded eight financing companies that have yet to meet the capital requirements. This means approximately 5% of the 144 entities still need to devise strategies to boost their capitalisation.

The Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions at OJK, Agusman, stated that the minimum core capital stipulated by regulations is Rp100 billion.

“All companies have submitted action plans outlining capital strengthening measures, including paid-up capital injections, seeking strategic investors, or mergers,” said Hasan during the press conference for the April 2026 Monthly Commissioners’ Meeting on Tuesday (5/5/2026).

In addition, OJK has noted that 11 out of 94 online lending companies (pindar) have not met the Rp12.5 billion equity requirement.

For context, the number of under-capitalised multifinance and pindar companies has increased compared to the start of the year. Previously, OJK announced four multifinance and seven pindar companies lacking capital.

Meanwhile, the performance of multifinance companies remains under pressure. Growth in outstanding financing is still weak at 0.61% year-on-year as of March 2026. Gross non-performing financing (NPF) also rose by 12 basis points year-on-year to 2.83%.

In the same period, outstanding financing for pindar continues to grow rapidly at 26.25% year-on-year, reaching Rp101.03 trillion. However, the bad debt ratio or TWP90 has also risen sharply to 4.52%, surging 175 basis points annually.