According to a report by the Indonesian Deposit Insurance Corporation (LPS), deposits in general banks reached Rp8,203 trillion in September 2023. This figure increased by 6.4% year-on-year (yoy) and grew slightly by 0.9% month-on-month (mom).
High-net-worth individuals still dominate domestic banking deposits. The total value of deposits exceeding Rp5 billion reached Rp4,331 trillion as of September 2023, up 7.8% from the same period the previous year (yoy).
This increase is in line with the rise in the number of high-net-worth individual accounts, which reached 133,420 accounts in September 2023, a 5.3% year-on-year (yoy) increase.
Deposits exceeding Rp5 billion contributed 52.8% to the total deposits in general banks last month.
The second largest contributor to banking deposits came from customers with savings of less than Rp100 million, with a proportion of 12.3%. Total deposits from this nominal tier reached Rp1,005 trillion, growing by 3.1% (yoy).
Next, total deposits from customers in the Rp200 million-Rp500 million nominal tier were recorded at Rp687 trillion, up 6.1% (yoy). This represents 8.4% of total banking deposits.
Furthermore, total deposits from customers in the Rp2 billion-Rp5 billion nominal tier amounted to Rp675 trillion, up 7.5% (yoy). This group contributed 8.2% to total banking deposits.
Then, total deposits from customers in the Rp500 million-Rp1 billion nominal tier amounted to Rp575 trillion, increasing by 4.6% (yoy). This contributed 7% to total banking deposits.
Total deposits from customers in the Rp1 billion-Rp2 billion nominal tier amounted to Rp509 trillion, increasing by 5.7% (yoy). Its contribution was 6.2% of total deposits.
Meanwhile, total deposits from customers in the Rp100 million-Rp200 million nominal tier were the lowest contributor, at only Rp421 trillion, up 2.7% (yoy). This group contributed 5.1% to total banking deposits in September 2023.