Indonesian bank customer accounts have persistently increased over the last eight years.

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Erlina Fury Santika 03/09/2024 17:17 WIB

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LPS data shows 584.18 million Indonesian bank accounts in June 2024. This is the annual account trend.

Number of Indonesian Commercial Bank Savings Accounts (2017-2024*)

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Number of Indonesian Commercial Bank Savings Accounts (2017-2024*)

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According to deposit distribution data from the Indonesian Deposit Insurance Corporation (LPS), the total number of Indonesian general bank customer accounts reached 584.18 million in June 2024. This figure increased by 0.91% from the previous month.

The number of Indonesian general bank customer accounts has shown persistent year-on-year growth.

In 2017, the number of accounts was only 242.39 million. It grew by 21.6% year-on-year (YoY).

In 2018, the number increased to 275.76 million, a YoY increase of 13.8%. Then, in 2019, it rose again to 301.69 million, growing by 9.4% (YoY).

During the Covid-19 pandemic, the number of accounts continued to surge to 350.32 million, a YoY growth of 16.1%. In 2021, it reached 386.31 million, up 10.3% (YoY).

A significant jump in accounts occurred in 2022, reaching 508.54 million, a substantial YoY growth of 31.6%. In 2023, the number of accounts reached 559.91 million, with a YoY growth of 10.1%.

By deposit type, savings accounts comprised the largest number of accounts, accounting for 98.1% of the total accounts in June 2024.

"The highest increase in the number of accounts was in deposit on call, at 10.1% month-on-month (MoM), while the deepest growth in savings accounts was in current accounts, at 2.9% MoM," LPS wrote in its report published on Monday, July 22, 2024.

Based on deposit tiering, the majority of accounts are in the lowest tier, with deposits of Rp100 million or less. This represents 98.8% of the total Indonesian customer accounts.

(See also: [Majority of Public Bank Accounts are in the Lowest Deposit Tier](https://databoks.katadata.co.id/datapublish/2024/09/03/mayoritas-rekening-bank-masyarakat-ada-di-level-simpanan-terendah))

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."