LPS confirms public savings continue to grow

Jakarta (ANTARA) - Chairman of the Board of Commissioners of the Indonesia Deposit Insurance Corporation (LPS) Anggito Abimanyu stated that growth in public savings and deposits is still occurring, both for those under the range of Rp100 million and up to Rp5 billion.

Responding to reporters’ questions after a limited meeting at the Presidential Palace complex in Jakarta on Monday, LPS Chairman Anggito said he does not see a phenomenon of people eating into their savings or using them for daily needs.

“All are still growing, both savings under Rp100 million and those above Rp5 billion, all are growing and moving,” said Anggito.

He said this growth shows that the circulation of funds entering banks reflects public economic activity that supports growth.

“This shows that the circulation of funds entering banks actually supports economic activity, particularly in the real sector,” said Anggito.

Based on LPS records, the number of people without bank accounts has decreased by two million each year, with 15 million people currently remaining unbanked.

This condition demonstrates that more people are using accounts to conduct various economic activities.

“It means people have accounts for their activities. Furthermore, the number of active accounts has also increased over the past year. This shows the economy is active. Account transfers, payments, and receipts are all rising,” he said.