Indonesia’s Millionaires Don’t Save Under Their Mattresses: LPS Reveals
According to data released by Lembaga Penjamin Simpanan (LPS), total public savings and deposits are growing and moving upward across banking institutions, signaling an easing of the liquidity squeeze that previously plagued retail depositors.
LPS Data Reveals End to Emergency Liquidity Drawdowns
The stabilization of household capital marks a stark departure from previous fiscal quarters when persistent inflation forced everyday consumers to draw down their bank balances. Recent data highlights that roughly 15 million citizens still keep their cash wealth outside the formal banking system by storing physical money under mattresses or at home, exposing their assets to security risks and inflation erosion.
Corporate Strategies Shift to Capture Returning Capital
Divergent Recovery Patterns Across the Middle Class
Growth figures within specific demographics reveal a nuanced financial landscape. Data from Tirto.id notes that savings growth among the middle class remained relatively slow during the final three months of the observation period, reflecting cautious spending behavior despite overall macroeconomic stability. Conversely, updates from CNBC Indonesia show that middle-class savings balances and overall account activity are beginning to recover as consumer confidence ticks upward.