Customer Deposits Increased in May 2022, Primarily from the Wealthiest Group

The Indonesian Deposit Insurance Corporation (LPS) recorded that deposits from the wealthiest group of depositors—those with savings exceeding Rp5 billion—accumulated to Rp3,889 trillion in May 2022. This figure represents a 14.5% year-on-year (yoy) increase compared to May 2021, when it stood at Rp3,404 trillion.

Deposits from this wealthiest group of depositors are the largest contributor to the banking sector, accounting for 51.4% of total deposits in general banks.

The second largest contributor is the group of depositors with savings of less than Rp100 million. The accumulated value of deposits from this tier increased by 3.3% (yoy) to Rp974 trillion in May 2022, contributing 12.8% to the total deposits.

Next, the deposit tier ranging from Rp200 million to Rp500 million experienced a growth of 0.6% (yoy), reaching Rp646 trillion. This amount contributes 8.5% to the total deposits in general banks.

Following this is the Rp2 billion to Rp5 billion tier, which contributed 8.2% to the total deposits, with a cumulative value of Rp621 trillion, representing a 5.3% yoy increase.

The Rp500 million to Rp1 billion deposit tier contributed 7.3% to the total deposits, with a cumulative value of Rp554 trillion, a 4.6% yoy increase.

The Rp1 billion to Rp2 billion deposit tier accounted for 6.4% of total deposits, with a cumulative value of Rp484 trillion, showing a 4.7% yoy increase.

Deposits in the Rp100 million to Rp200 million range contributed only 5.4% to the total deposits in general banks, with a cumulative value of Rp410 trillion, representing a 6.4% yoy increase.

Overall, LPS recorded total deposits in general banks reaching Rp7,588 trillion in May 2022, showing a 9.5% yoy growth and a 0.3% month-on-month increase.