Misunderstanding Of The Public About Deposit Of IDR 5 Billion Belonging To Rich Customers

LPS Research Group Director Herman Saheruddin straightened out the public's misunderstanding that the deposit balance above IDR 5 billion belonged to the rich.

Herman said that the savings were dominated by corporations holding 60 percent of the total savings portion.

"The corporate savings that you usually say are above Rp. 5 billion, so if the deposit is above Rp. 5 billion, more than 60 percent belongs to corporations, both private and government," Herman said in a media gathering in Bandung, Thursday, November 9.

For this reason, he emphasized that the assumption that the savings are owned by individuals is a wrong assumption, because in fact individual customers only hold 17.92 percent of the portion.

"So if we say that the savings of the rich above Rp5 billion are not all true because most of the corporations. If the corporation can't be said to be rich or not. For example, it's rich but the debt is 90 percent not rich, it means too," continued Herman.

He detailed that the savings holders above Rp5 billion consisted of private corporations of 49.14 percent, BUMN and BUMD by 11.46 percent, Central & Regional Government holding 11.78 percent, Individual 17.92 percent and the rest 9.70 percent.

Previously, the Deposit Insurance Corporation (LPS) noted that the savings of rich customers with a nominal value of more than IDR 5 billion in August grew slowly. The chairman of the LPS Board of Commissioners, Purbaya Yudhi Sadivewa, said that in August it only grew 6.79 percent.

"It's a bit lower than the previous month which grew by 7.69 percent," said Purbaya, quoted on Saturday, September 30. Purbaya said that this decline was caused by entrepreneurs who used their funds for business development.

"We assume that most of them are data companies, they are also doing business or using their own money for business expansion so that their growth savings tend to slow down," explained Purbaya.