Jakarta, Indonesia Sentinel — Indonesia’s Financial Services Authority (OJK) reported that the total outstanding balance or debt of online loans (known locally as pinjol) reached Rp87.61 trillion ($5.3 billion) as of August 2025.
The figure was revealed by OJK’s Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services (PVML), Agusman, during the authority’s September 2025 monthly board meeting press conference.
He said peer-to-peer (P2P) lending, or pinjol, grew 21.62 percent year-on-year, up from Rp35.62 trillion recorded in the same period last year.
“In the online lending industry, outstanding financing as of August 2025 rose 21.62 percent year-on-year to 87.61 trillion rupiah,” Agusman said on Thursday (October 9), as reported by CNN Indonesia. On a month-to-month basis, the figure also showed an increase from Rp84.66 trillion in July 2025.
Agusman added that the 90-day default rate (TWP90), a key measure of non-performing loans, remained stable at 2.60 percent. Overall, financing receivables in the PVML sector grew 1.26 percent year-on-year in August 2025 to Rp505.59 trillion, supported by a 7.92 percent annual growth in working capital loans.
“The risk profile of financing companies remains under control, with the gross non-performing financing (NPF) ratio at 2.51 percent and net NPF at 0.85 percent,” he said.
Read Also:
Earlier in August, OJK raised concerns over the surge in illegal financial services activities, including unlicensed online lending and fraudulent investment schemes.
Friderica Widyasari Dewi, OJK’s Chief Executive for Financial Services Business Conduct, Education, and Consumer Protection, said more than Rp120 trillion ($7.3 billion) of public funds had been lost to illegal financial operations.
“These funds did not go into productive sectors, they simply vanished because people fell victim to illegal financial schemes, which now total over 120 trillion rupiah,” Friderica said during the launch of the National Campaign Against Scams and Illegal Financial Activities in Jakarta on August 19, 2025.
According to OJK, from January 1 to July 29, 2025, the authority’s Illegal Financial Activities Eradication Task Force (Pasti) shut down 1,840 illegal financial entities, comprising 1,556 unlicensed online lending platforms and 284 illegal investment schemes.
“We’ve already taken down more than 1,800 illegal financial entities, including unlicensed lenders and fraudulent investment offers that have caused significant public harm,” Friderica said.
OJK also received 11,137 public complaints related to illegal finance, including 8,929 involving pinjol and 2,208 involving illegal investments.
(Raidi/Agung)
