JAKARTA - The Board of Commissioners (RDK) Meeting of the Deposit Insurance Corporation (LPS) on Monday 30 September 2024, LPS has evaluated and determined the Guarantee Interest Rate (TBP) for deposits in Rupiah at commercial banks and the People's Economy Bank (BPR), as well as deposits in foreign currency (foreign currency) in commercial banks.

Based on the results of the RDK, LPS decided to maintain the TBP of rupiah deposits at commercial banks and BPR as well as foreign exchange deposits at commercial banks.

Currently, the rupiah deposit TBP at Commercial Banks is 4.25 percent and the rupiah deposit TBP at BPR is 6.75 percent. Meanwhile, for TBP, foreign exchange deposits at commercial banks are 2.25 percent.

One of these determinations is based on providing further space for banks in liquidity management and interest rates.

Furthermore, the TBP will apply for the period 1 October 2024 to 31 January 2025.

It should be noted that the deposit TBP is the maximum deposit interest rate limit so that bank customer deposits can be included in the deposit guarantee program.

Chairman of the LPS Board of Commissioners, Purbaya Yudhi Sadewa, explained that cross-border economic growth throughout 2024 is quite promising even though it is still in a different rate and is not yet fully optimal to pre-pandemic levels.

"Even so, in the future there are still some risks of uncertainty that still need to be observed, among others, indications of a decline in global manufacturing activity, an escalation of regional geopolitical conflicts, a transition of government in various countries that has the potential to affect the direction of economic policy and the expectations of further cuts in interest rates that can affect the sentiment of financial market investors," he said in Jakarta, Monday, September 30.

Furthermore, Purbaya explained, domestic economic performance is still good and needs to be pushed higher. This performance improvement is reflected in the Consumer Expectation Index being in the optimistic zone followed by a trend of real sales in the positive zone of 5.8 percent yoy in August 2024.

Meanwhile, the trade balance performance recorded a surplus of 2.9 billion US dollars and contributed to supporting external resilience. Indications of a decline in performance.

"This is where cross-sector economic activity and corporate expansion need to continue to be encouraged higher in order to contribute to increasing household purchasing power and quality economic growth," he added.

He also conveyed some of the latest positive developments, namely, the performance of the banking industry continues to improve in terms of the corporate sector. As of August 2024, bank credit grew by 11.40 percent yoy, while Third Party Funds (DPK) grew by 7.01 percent yoy. The corporate sector still contributed the largest growth both on credit and DPK by 14.50 percent and 15.14 percent yoy, respectively.

Then, banking capital conditions are still solid. The industrial capital ratio (KPMM) was maintained at the level of 26.48 percent in the period August 2024. Meanwhile, liquidity conditions were still relatively adequate with the ratio ratio of AL/NCD being at the level of 112.91 percent and AL/DPK at 25.37 percent.


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