Super Rich Customers Control Deposits in Banks, This is the Trigger

Reporter: Ferrika Sari | Editor: Novice Laoli

KONTAN.CO.ID – JAKARTA. Super-rich customers control deposits in national banks. Most of these customers are corporations who park their money in banks until they wait for the economy to recover.

As of November 2021, the Deposit Insurance Corporation (LPS) reported that total deposits with a nominal value of over IDR 5 billion rose 16.4% yoy to IDR 3,781 trillion. This figure is far above other deposits. These rich customers control 51.2% of the total deposits of IDR 7,388 trillion.

The chairman of the LPS Board of Commissioners, Purbaya Yudhi Sadewa, explained that the increase was due to customers holding back on investment and consumption. So that the number of their deposits increased rapidly in the banking sector.

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“In addition, the increase in commodity prices has contributed to increasing corporate customer deposits. This is a high profit windfall during the pandemic,” said Purbaya, Friday (7/1).

According to Purbaya, a number of other industries, such as pharmaceuticals, have also experienced an increase in revenue during the pandemic. As a result, the income that is parked at the bank increases.

In 2022, Purbaya estimates that these customers’ consumption and investment patterns will begin to return to normal. In general, customer deposits will continue to grow as the economy recovers and public confidence in the banking industry is maintained.

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“However, with the growth rate returning to normal as before the pandemic. So, the growth of deposits from rich customers will tend to grow more slowly,” explained Purbaya.