Jakarta, CNBC Indonesia – The Financial Services Authority revealed that there are still 29 licensed lending platforms that lack capital of IDR 2.5 billion.
Chief Executive of the Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions OJK, Agusman, revealed the latest status of dozens of loan companies or peer-to-peer lending which has not met capital adequacy requirements.
He stated that currently there are 29 loan companies that have not met the minimum equity requirements. Of the 29 companies, 6 loan companies have not yet submitted applications for capital increases.
Meanwhile, 21 companies are going through the approval process for additional paid-in capital and 2 P2P lending platforms are in the process of returning business permits.
“OJK has issued administrative sanctions in the form of written warnings to organizers who have not complied with these provisions to immediately increase capital and maintain minimum equity of IDR 2.5 billion,” said Agusman.
Based on OJK data, as of September 2023, the value of outstanding financing from the P2P lending industry reached IDR 55.7 trillion or grew 14.28 percent compared to the same period a year earlier, valued at IDR 48.74 trillion.
The level of non-performing loans as reflected in the 90-day default rate in the lending industry improved from 2.88 percent in August 2023 to 2.82 percent in September 2023.
[Gambas:Video CNBC]
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