OJK: Growth of the Multifinance Industry This Year is Still On Track

JAKARTA - The Chief Executive of the Financial Services Authority, Ventura Capital Company, Micro Finance Institution, and Other Financial Services Institution of the Financial Services Authority (OJK) Agusman stated that the multifinance industry or financing is still on track to grow 6-8 percent this year.

Until April 2026, the company noted that the multifinance industry had experienced a growth in financing receivables of 2.08 percent on an annual basis (year-on-year).

"We are confident with the support of all multifinance industry players that the 6-8 percent growth outlook for financing receivables that we announced earlier in 2026 Insya Allah is still on track," said Agusman at the "Mid-Year Economic Outlook 2026" event in Jakarta, quoted by Antara, Saturday, June 27.

He said that the multifinance industry needs to realize financing of around Rp30 trillion to achieve this growth target.

He said that the industry had channeled financing of around IDR 9 trillion until April 2026, with total financing receivables of IDR 514.65 trillion, mainly supported by working capital financing which recorded an increase of 10.6 percent year-on-year (yoy).

The financing was largely channeled to the large and retail trade sectors with a share of 17 percent, or Rp90 trillion. The leasing and leasing sector followed in second place with a financing value of Rp58 trillion.

"What is surprising is that it is precisely this last sector, the household sector, that has grown tremendously, about 28 percent year-on-year," said Agusman.

He stated that financing for the sector had reached Rp. 43 trillion. In addition, his party also saw a large growth space in the sustainable financing sector, one of which was the electric vehicle which jumped 32 percent to Rp. 23 trillion.

To face the challenges of the financing industry in the future, OJK has carried out various deregulations, such as allowing a down payment of motor vehicles up to zero percent for multifinance companies that meet certain technical criteria.

Other policies include exemptions from collateral obligations for working capital financing for all SME debtors with a maximum financing value of IDR 100 million. The requirement for the core capital ratio of the financing company to the capital deposited has also been reduced to 50 percent from 150 percent.

"All of these deregulation we mean in addition to encouraging usahmultifinance, but also of course providing the best service for people who need financing," said Agusman.

As of April 2026, the total assets of the financing company have reached IDR 593 trillion with a gearing ratio at the level of 2.14 times, well below the maximum limit of ten times.

The industry risk profile is also ensured to remain well maintained with a ratio of problematic financing or Non-Performing Financing (NPF) gross of 2.89 percent.