Price gains on the stock markets and higher savings interest rates are leading to an increase in the financial assets of people in Germany.
The financial assets of private households in Germany reached a record value of around 7,716 billion euros last year. At the end of 2023, price gains in stocks and shares in investment funds, among other things, caused an increase of 250 billion euros compared to the third quarter, as the Deutsche Bundesbank announced in Frankfurt. Households also put more money into higher-interest deposits with longer terms at banks and savings banks. Compared to the end of 2022, financial assets increased by 6.6 percent.
The Bundesbank put the valuation gains from listed stocks, shares in investment funds as well as insurance and pension claims in the fourth quarter at a total of 184 billion euros.
According to the figures, by far the largest part of financial assets is still in cash and deposits at banks and savings banks such as daily and fixed-term deposits. This item totaled 3,214 billion euros at the end of 2023 and has increased again.
Less debt, the net financial assets of private households rose by 244 billion euros to 5,560 billion euros in the fourth quarter compared to the previous quarter.
In its evaluation, the Bundesbank takes into account cash and bank deposits, securities such as stocks and funds as well as claims against insurance companies. How the gigantic sum is distributed in detail is not clear from the data. Real estate is not taken into account.
Source: Stern
