Jakarta – The closure of 13 banks between January and September 2026 does not necessarily mean that customers will lose their money. The Indonesia Deposit Insurance Corporation (LPS) has assured that deposits meeting the applicable insurance requirements will be returned to customers.
LPS Chairman Anggito Abimanyu said the return of funds covered by the deposit insurance scheme can be completed no later than five days after a bank is closed and a liquidation team is established.
“Depositors’ funds that are covered by the guarantee will be returned within five days. So all customer funds covered under the guarantee scheme, including interest and amounts up to Rp2 billion, will be returned,” Anggito said at the 100 Economists Forum in Jakarta on Thursday (September 3, 2026).
What Happens to Funds Above Rp2 Billion?
Customers with deposits exceeding Rp2 billion will have to wait for the liquidation process. Funds above the guaranteed limit are not paid immediately because their repayment depends on the recovery of the bank’s assets.
Anggito explained that liquidated banks still have assets and outstanding loans. If those assets can be recovered or sold, the proceeds can be used to fulfill obligations to customers.
“But for the amount above that, the repayment depends on the recovery. The bank has assets and loans. If we can sell them and they generate proceeds, then we return the money, pay, pay, pay,” he said.
LPS Highlights BPR Data Issues
In addition to the issue of returning customer funds, LPS is also preparing improvements to the banking data system.
Anggito said some BPRs still do not have up-to-date data. This could become an obstacle when a bank enters the resolution process.
Therefore, LPS plans to develop a core system that will allow banking data to be available in real time.
“That’s why we will create what is stipulated in the law, namely a core system, so that the data is real time,” Anggito said.
The system is expected to minimize discrepancies between previous data and the latest information when a resolution process takes place.
13 Banks Have Been Closed
The Financial Services Authority (OJK) has revoked the business licenses of 12 BPRs and one BPRS between January and September 2026.
The closures are part of efforts to address problems faced by the banks, including issues related to capital and financial health.
One of the latest banks to have its license revoked was PT Bank Perekonomian Rakyat Syariah (BPRS) Gaido Indonesia in Cianjur, West Java.
OJK revoked BPRS Gaido Indonesia’s business license on September 1, 2026. Previously, the bank had been under the BPRS Under Recovery supervision status since August 15, 2025.
Efforts to restore the bank’s condition, particularly by addressing capital and liquidity problems, failed to meet the required conditions. LPS subsequently decided that the bank would be handled through liquidation.
More Bank Closures Possible
The number of closed banks could still change as OJK continues its consolidation process.
Anggito said consolidation does not always end with the revocation of a bank’s business license. Some banks may be combined through mergers or acquisitions, while others may enter the resolution process.
“Our part is the liquidation. The number depends on OJK. A program is currently being carried out over the next one to two years,” he said.
Under this mechanism, customers of closed banks still have a channel for recovering their funds. Deposits that meet LPS insurance requirements will be returned, while funds outside the insurance scheme will follow the liquidation process and the recovery of the bank’s assets.
