Jakarta. Indonesia’s two largest banks, Bank Rakyat Indonesia (BRI) and Bank Central Asia (BCA), collectively managed nearly 29 percent of the country's total public savings as of February, according to the latest data from Bank Indonesia.

The central bank reported that third-party funds -- or public savings deposited in the national banking system --reached Rp 8,612.5 trillion (approximately $520.1 billion) as of February 28, marking a 5.1 percent increase year-on-year.

Of that total, BRI held Rp 1,380.91 trillion, accounting for 16 percent of all public savings. BRI is Indonesia’s largest bank by total assets. Meanwhile, BCA managed Rp 1,117.67 trillion, or 12.9 percent of the nationwide total.

Public savings from corporate clients rose 12.9 percent year-on-year to Rp 4,190.4 trillion. In contrast, savings from individual account holders declined 1.8 percent, totaling Rp 3,998.7 trillion.