OJK Flags Debtor Repayment Woes as Multifinance NPF Hits 3%
Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has highlighted the repayment capacity of debtors at multi-finance companies, which is beginning to face challenges. This condition is a concern amid limited financing growth.
Deputy Commissioner for Supervision of Financing Institutions, Venture Capital, Microfinance Institutions, and Other Financial Services Institutions at OJK, Jasmi, stated that the multi-finance industry needs to maintain financing quality as debtor repayment ability appears increasingly challenging.
“Another thing that needs to be conveyed is how we can also maintain financing conditions amid the debtors’ repayment ability, which is starting to look challenging,” Jasmi said at a CNBC Indonesia event on Tuesday (11/8/2026).
Based on OJK data as of June 2026, multi-finance company receivables were recorded at Rp511.26 trillion, growing 1.88% year-on-year (yoy). This growth slowed compared to December 2024, which reached 6.92%, and was slightly thinner than the 1.96% growth recorded in June 2025.
Amid this limited growth, the gross non-performing financing (NPF) ratio for multi-finance firms was recorded at 3.01% in June 2026. This gross NPF figure edged down slightly from 3.06% in May 2026, but the level remains higher than the 2.55% recorded in June 2025. Meanwhile, net NPF was recorded at 0.81% in June 2026, down from 0.85% in May 2026 and 0.88% in June 2025.
Jasmi stressed that financing quality must remain a focus for the industry. “Various challenges faced include the NPF, which must be maintained properly,” he said.
Beyond debtor repayment capacity, Jasmi highlighted the need for proper management of collections. He noted that these issues could increase the industry’s challenges in channelling financing, both for new and existing loans. “Various collections and so on, the impacts and so forth. If not managed properly, this could potentially increase the challenges for conducting financing in multi-finance, both for new and for ongoing ones,” he explained.
On the other hand, the multi-finance industry is also facing challenges from interest rate changes, the need for innovation, and business model adjustments. These conditions increasingly demand that financing companies maintain the quality of their financing portfolios.
Jasmi said the OJK is continuing to strengthen the multi-finance industry, including in terms of governance and risk management. “We are continuing to carry out a series of policies related to strengthening, both in terms of governance and risk management,” Jasmi said.