LPS Targets Increase of 2 Million Savings Account Holders Per Year

The Deputy Chairman of the LPS Board of Commissioners, Farid Azhar Nasution, has highlighted the significant challenges in promoting financial literacy among the younger generation, particularly regarding geographical barriers. He noted that the current youth demographic tends to use mobile phones primarily for entertainment, which often results in a lack of deep understanding regarding financial matters.

According to the 2026 National Survey of Financial Literacy and Inclusion (SNLIK) released by BPS, OJK, and LPS, Indonesia’s financial literacy index stands at 69.57%, which is significantly lower than the financial inclusion index of 93.61%.

In response to this disparity, the LPS has committed to regularly conducting financial literacy programmes, such as the Lampung Financial Festival 2026. The institution intends to utilise a combination of offline and online methods to ensure that the public gains a more profound understanding of financial concepts beyond mere surface-level awareness.

In an effort to accelerate the growth of financial literacy, the LPS targets reaching a literacy rate of at least 80% within the next five years. Furthermore, the LPS aims to increase the number of people holding bank accounts by 2 million every year.

“Currently, there are still around 15 million people without accounts; our hope is that by next year, that number will decrease to 13 million,” he explained.

The Lampung Financial Festival 2026 was held over two days, from 5–6 September 2026. This event is part of the LPS’s broader efforts to enhance public knowledge regarding finance and deposit insurance. Lampung was specifically chosen as the festival location because the local literacy rate regarding deposit insurance remains below the national average.