Indonesia's online lending book reaches IDR 105.63 trn, up 24.76%; TWP90 at 4.32%

Implications

Facts

Outstanding: loans outstanding on online lending platforms (pindar, peer-to-peer) were IDR 105.63 trn at end-July 2026, up 24.76% year on year and IDR 0.49 trn month on month (up from IDR 105.14 trn at end-June). Basis: end-July 2026. Source: remarks by OJK department head Agusman (reported by Okezone and Warta Ekonomi, 7–8 September). ¹

Arrears: industry TWP90 (loans more than ninety days past due) was 4.32% (Okezone). 16 platforms had TWP90 above 5%, unchanged from June (Warta Ekonomi, citing the same official). ANTARA (17 September) reported that 19 platforms were above the threshold in April 2026. ²

Capital and sanctions: of 94 registered platforms, 7 fall short of the minimum capital of IDR 12.5 bn; all have submitted remediation plans. OJK imposed administrative sanctions on 34 platforms in August 2026. Source: as above (Okezone).

Analysis

Over time, the number of platforms with TWP90 above the threshold fell from 19 in April (ANTARA) to 16 in June and stayed there in July. Outstanding loans are still growing 24.76% year on year, but the June-to-July increase was only 0.47%, so monthly growth has slowed. An industry average arrears rate of 4.32% is lower than the Philippine bank consumer-loan NPL ratio of 5.49% (July, BSP), but definitions (TWP90 versus bank NPLs) differ, so direct comparison is not possible.

Counterpoints and uncertainties

TWP90 is self-reported by platforms and can improve cosmetically through write-offs or loan sales. OJK's monthly statistics will show whether the 4.32% figure is flat versus June.