TEMPO.CO, Jakarta – Indonesia’s Financial Services Authority (OJK) reported that lending disbursed by the country’s financial technology sector, particularly peer-to-peer (P2P) and online lending platforms, reached Rp94.85 trillion (around US$6.1 billion) in November 2025, even as loan default risks increased.
The figure marked a rise from Rp92.9 trillion in the previous month. Agusman, Executive Head of Supervision for Financing Institutions, Venture Capital Firms, Microfinance Institutions, and Other Financial Services (PMVL) at OJK, said outstanding P2P financing grew 25.45 percent year on year.
“Outstanding financing in the online lending industry reached Rp94.85 trillion in November 2025,” Agusman said at a press conference on Friday, January 9, 2026.
OJK data show that P2P lending has expanded steadily in recent years. Total outstanding loans stood at Rp59.6 trillion in December 2023, before rising to Rp77.02 trillion in December 2024, and continuing their upward trend through 2025.
However, the industry’s risk profile has also deteriorated. The 90-day default rate, known as TWP90, climbed to 4.33 percent in November 2025, up from 2.76 percent in October.
“TWP90 increased to 4.33 percent,” Agusman said, indicating a growing share of loans overdue by more than 90 days.
Beyond fintech lending, OJK also reported growth in Indonesia’s broader financing sector. Receivables at financing companies rose 1.09 percent month on month to Rp506.8 trillion in November, driven largely by an 8.99 percent increase in working capital financing.
Despite the rise in defaults in the P2P segment, OJK said overall financial stability remains intact. Gross non-performing financing (NPF) at financing companies stood at 2.44 percent, while net NPF was recorded at 0.85 percent.
The sector’s debt-to-equity ratio remained manageable at 2.13 times, well below the regulatory ceiling of 10 times.
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