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Indonesian banks' BNPL balances slip to IDR 31.41 trn in August as growth slows to 29.10%

Published Data as of IndonesiaCreditBNPLUnsecured
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Key points

Implications

ExecutivesBank BNPL remains a fast-growing but small line; banks can scale it selectively without large balance-sheet risk, provided limits stay tight.
InvestorsSlowing BNPL growth across banks, finance companies and online lenders points to a maturing segment; growth stories now depend on credit quality rather than user acquisition.
OperatorsWith more accounts but lower balances per account, focus on limit management and repeat-use behaviour, and check bureau (SLIK) data for multi-provider exposure.

Facts

Bank BNPL: at OJK's monthly Board of Commissioners press conference on 5 October, Chief Executive of Banking Supervision Dian Ediana Rae said outstanding BNPL credit at banks, as reported through the SLIK credit information system, was IDR 31.41 trn at end-August (down from IDR 31.56 trn at end-July). 1 The July figure, given at the September press conference, was IDR 31.56 trn. 2 Annual growth was 29.10% (down from 31.22% in July). 3 The number of accounts was about 34 million (up from about 33.5 million in July), 4 and bank BNPL was 0.34% of total bank credit. 5

Consumer credit: OJK said bank consumer credit grew 5.07% year on year in August. 6 OJK did not give a non-performing ratio for bank BNPL.

Analysis

Time series: annual growth in bank BNPL has slowed every month since May, from 37.72% 7 to 29.10% (chart). In August the balance fell slightly from July while the account count rose, so the average balance per account declined. Banks are adding users but lending less per user, which could reflect tighter limits or lower use per account; OJK did not explain the change.

Across lenders: banks hold the larger BNPL book. Finance companies' BNPL receivables were IDR 13.61 trn in August 8 and grew faster, at 36.57% (down from 54.65% in July). 9 Licensed online lenders' outstanding loans grew 22.07% 10 while their 90-day arrears ratio rose to 4.73%. 11 Growth is slowing across all three channels of small-ticket digital credit at the same time.

Cross-check: bank consumer credit growth of 5.07% on OJK's figures is close to Bank Indonesia's money-survey reading of 5.0% 12, so BNPL is still expanding far faster than the rest of household lending at banks.

Bank BNPL growth, year on year (%)
01020304037.722026-0533.542026-0631.222026-0729.12026-08
Bank BNPL growth, year on year (%)
2026-0537.72
2026-0633.54
2026-0731.22
2026-0829.1

Year-on-year growth in banks' outstanding BNPL credit, monthly (OJK, SLIK) · Source: OJK monthly press conferences (via Okezone, Kontan, Bisnis.com) (2026-05, 2026-06, 2026-07, 2026-08)

Counterpoints and uncertainties

The month-on-month decline is small and the July figure comes from a separate press conference, so a revision rather than a real contraction cannot be ruled out. OJK gives no non-performing ratio for bank BNPL, so the slowdown could reflect either tighter underwriting or weaker demand. The figures cover banks reporting to SLIK and exclude unlicensed providers.

Key figures

  1. Bank BNPL outstanding (OJK): IDR 31.41 trn (down from IDR 31.56 trn at end-July). Outstanding buy-now-pay-later credit at banks, as reported by OJK from SLIK. Indonesia, commercial banks (SLIK data). Basis date: 31 Aug 2026. Source: Bisnis.com: Outstanding pay later di bank naik hampir 30%, kredit konsumsi lesu (2026-10-05, OJK press conference)
  2. Bank BNPL outstanding (OJK): IDR 31.56 trn. Outstanding buy-now-pay-later credit at banks, as reported by OJK from SLIK. Indonesia, commercial banks (SLIK data). Basis date: 31 Jul 2026. Source: Kontan: Pembiayaan BNPL tembus Rp31,56 triliun hingga Juli 2026 (OJK press conference, 2026-09-07)
  3. Bank BNPL growth, year on year (OJK): 29.10% (down from 31.22% in July). Year-on-year growth in banks' outstanding BNPL credit (OJK, SLIK). Indonesia, commercial banks (SLIK data). Basis date: 31 Aug 2026. Source: Bisnis.com: Outstanding pay later di bank naik hampir 30%, kredit konsumsi lesu (2026-10-05, OJK press conference)
  4. Bank BNPL accounts (OJK): about 34 million (up from about 33.5 million in July). Number of bank BNPL accounts, as reported by OJK. Indonesia, commercial banks (SLIK data). Basis date: 31 Aug 2026. Source: Bisnis.com: Outstanding pay later di bank naik hampir 30%, kredit konsumsi lesu (2026-10-05, OJK press conference)
  5. Bank BNPL share of total bank credit (OJK): 0.34%. Banks' outstanding BNPL credit as a share of total bank credit (OJK). Indonesia, commercial banks (SLIK data). Basis date: 31 Aug 2026. Source: Bisnis.com: Outstanding pay later di bank naik hampir 30%, kredit konsumsi lesu (2026-10-05, OJK press conference)
  6. Bank consumer credit growth, year on year (OJK): 5.07%. Year-on-year growth of bank consumer credit, as announced by OJK. Indonesia, commercial banks. Basis date: 31 Aug 2026. Source: Bisnis.com: Outstanding pay later di bank naik hampir 30%, kredit konsumsi lesu (2026-10-05, OJK press conference)
  7. Bank BNPL growth, year on year (OJK): 37.72%. Year-on-year growth in banks' outstanding BNPL credit (OJK, SLIK). Indonesia, commercial banks (SLIK data). Basis date: 31 May 2026. Source: Okezone: OJK — paylater bank naik 33,54 persen jadi Rp30,71 triliun per Juni 2026 (2026-08-04)
  8. Finance companies' BNPL receivables: IDR 13.61 trn (IDR 13.62 trn at end-July). Outstanding buy-now-pay-later financing by finance companies. Finance companies (multifinance) supervised by OJK. Basis date: 31 Aug 2026. Source: Kontan: Pembiayaan BNPL tembus Rp13,61 triliun per Agustus 2026 (2026-10-05)
  9. Finance companies' BNPL receivables, year-on-year growth: 36.57% (down from 54.65% in July). Year-on-year growth in finance companies' BNPL receivables. Finance companies (multifinance) supervised by OJK. Basis date: 31 Aug 2026. Source: OJK: Siaran Pers RDKB September 2026 (SP 185/OJK/DKPU/X/2026, 2026-10-05)
  10. Online lending outstanding, year-on-year growth: 22.07% (down from 24.76% in July and 25.88% in June)
    July and June growth rates are from OJK's September 2026 board press release (RDKB August 2026).
    . Year-on-year growth in outstanding loans of licensed P2P lending platforms. Licensed online lending (pindar / P2P) platforms. Basis date: 31 Aug 2026. Source: OJK: Siaran Pers RDKB September 2026 (SP 185/OJK/DKPU/X/2026, 2026-10-05)
  11. Online lending TWP90 (90+ day arrears): 4.73% (up from 4.32% in July). Share of outstanding loans more than ninety days past due, industry-wide (OJK TWP90). Licensed online lending (pindar / P2P) platforms. Basis date: 31 Aug 2026. Source: OJK: Siaran Pers RDKB September 2026 (SP 185/OJK/DKPU/X/2026, 2026-10-05)
  12. Consumer credit growth (BI, YoY): 5.0% (down from 5.3% in July 2026)
    Bank Indonesia's money-survey credit series (loans only; excludes debt securities and bankers' acceptances). Differs from OJK's commercial-bank series. Headline total growth confirmed in BI's release (bi.go.id, checked 2026-09-29); segment breakdowns from media reports citing BI (Kontan, Industry.co.id), which agree.
    . Year-on-year growth of bank consumption loans (kredit konsumsi), BI money survey. Indonesia, banking system (BI money-survey basis). Basis date: 31 Aug 2026. Source: Industry.co.id: Uang Beredar Agustus 2026 Tumbuh 8,2%, Kredit Perbankan Makin Terakselerasi (2026-09-24), citing Bank Indonesia

Sources

  1. Bisnis.com: Outstanding pay later di bank naik hampir 30%, kredit konsumsi lesu (2026-10-05, OJK press conference)
  2. Kontan: Pembiayaan BNPL tembus Rp31,56 triliun hingga Juli 2026 (OJK press conference, 2026-09-07)
  3. Okezone: OJK — paylater bank naik 33,54 persen jadi Rp30,71 triliun per Juni 2026 (2026-08-04)
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A Japanese version of this article is available: 日本語版

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