In the lead up to the New Year, people were saving rather than spending, bringing the total bank savings to Rp 26.36 trillion in the fourth week of December, Bank Indonesia (BI) data shows.
Based on this data, the total amount of third party funds, including savings, deposits and current accounts, was Rp 2,243.63 trillion, reflecting a 13.86 percent increase throughout the year.
Meanwhile, on a yearly basis, third party funds grew by almost 17 percent.
A significant increase was also seen in lending last week.
National banks disbursed Rp 14.69 trillion loans in the fourth week of December, bringing the total amount of outstanding loans to Rp 1,722.84 trillion.
Lending has grown 20.46 percent so far this year, compared to the 22-24 percent targeted by the central bank. On a yearly basis, however, it grew by 22.35 percent.
BI spokesman Difi Johansyah said Wednesday that the central bank was upbeat that lending could grow by 22.41 percent by the year end.
“[That's] based on the assumption that loan growth until the end of 2010 will be as much as it was in the same period last year, or Rp 27.86 trillion.”
