Number of banks reached 110 banks in 2019 in Indonesia, according to the National Central Bank. This is 4.35 % less than in the previous year.
Historically, number of banks in Indonesia reached an all time high of 133 banks in 2004 and an all time low of banks in. When compared to Indonesia's main peers, number of banks in Malaysia amounted to 42.0 banks, 46.0 banks in Philippines and 132 banks in Singapore in 2019.
Indonesia has been ranked 16th within the group of 140 countries we follow in terms of number of banks, 3 places above the position seen 10 years ago.