The equity of the fintech P2P lending industry saw double-digit growth as of December 2024. According to data from the Financial Services Authority (OJK), the industry’s equity reached IDR 5.07 trillion, marking a 46% year-on-year (YoY) increase from IDR 3.46 trillion in December 2023. On a month-to-month (MtM) basis, equity grew 5.3% from IDR 4.81 trillion in November 2024. Meanwhile, year-to-date (YtD) growth stood at 40.8%, rising from IDR 3.60 trillion in January 2024. Despite this strong trend, the sector experienced a brief contraction in September 2024, when equity declined to IDR 4.50 trillion from IDR 4.51 trillion in August. P2P lending companies are required to meet the minimum equity regulations set by OJK under Regulation No. 10/POJK.05/2022, which mandates a gradual increase to at least IDR 12.5 billion by June 2025.
OJK’s Chief Executive for PVML, Agusman, reported that as of December 2024, 10 out of 97 P2P lending providers had yet to meet the second-phase minimum equity requirement of IDR 7.5 billion. Among them, four providers were still undergoing an assessment process for additional capital injection. OJK has imposed administrative sanctions on non-compliant companies and required them to submit an action plan to ensure capital adequacy.
