3 hours ago
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January 24, 2025 | 10:14 am
TEMPO.CO, Bandung - Chairman of the Indonesian Joint Funding Fintech Association (AFPI) Entjik S. Djafar said 21 peer-to-peer fintech companies (P2P) lending or online lending that have bad credit rates above 5 percent do not affect the stability of the industry as a whole.
Meanwhile, to determine the level of P2P lending non-performing loans, the default rate indicator or TWP90 is used, the default rate indicator, or TWP90. is used The Financial Services Authority (OJK) assesses the ratio d.over
"We see, in general, the 21 companies above 5 percent do not affect significantly because in total the TWP (default rate) is still good," Entjik said when met in the Kota Baru Parahyangan area, West Bandung Regency, West Java, on Wednesday, January 22, 2025.
He said that although the number of online lending organizers with default rates above 5 percent reached 21 companies, the figure was actually not too high. This is because these companies have relatively small portfolios. "Of these 21, the portfolio is not big," Entjik said. "It's just that it is spread across 21 companies."
The 21 online lending providers with TWP90 above 5 percent are dominated by the productive sector. According to Entjik, this is due to fluctuating economic conditions. Not only that, he also mentioned that fraudulent syndicates try to break into the online lending organizing system by applying for fictitious loans.
AFPI is also discussing strengthening risk management and credit risk for online lending organizers, especially in the productive sector. "We are indeed talking, discussing how to make this productive good," he said.
Previously, OJK noted 21 fintech lending companies with TWP90 above 5 percent as of November 2024. "Dominated by organizers that focus on the productive sector," said OJK Chief Executive Officer of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions Agusman in a written statement.
Meanwhile, the aggregate level of bad credit risk or TWP90 in the online lending industry as of November 2024 was recorded at 2.52 percent. This figure increased from the TWP90 figure in October 2024, which was 2.37 percent.
ERVANA TRIKARINAPUTRI | GRACE GANDHI
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