Banking DPK Grows 10 Percent

Third-party funds (TPF) in the banking sector grew by 9.6 percent in 2016, reaching Rp 4,836.8 trillion from Rp 4,413.1 trillion in the previous year. The inflow of funds from the tax amnesty program resulted in higher TPF growth last year compared to the previous year's 7.26 percent.

Based on type, the largest portion of banking TPF was in the form of time deposits, reaching 44.67 percent or Rp 2,160.7 trillion. Savings accounts accounted for 32.1 percent or Rp 1,551.8 trillion, while current accounts represented 23.24 percent or Rp 1,124.23 trillion. Current accounts showed the highest growth in banking TPF, reaching 13.84 percent, followed by savings accounts at 11.16 percent and time deposits at 6.46 percent.

To access taxpayer data in banks, the Directorate General of Taxes of the Ministry of Finance and the Financial Services Authority launched a system for authorizing the disclosure of depositor confidentiality for tax purposes. This system consists of two applications: the Application for Disclosure Request (Akasia) for the Ministry of Finance and the Bank Disclosure Application (Akrab) for the Financial Services Authority.