Overall, people in Germany have more money than ever before. There were 7,716 billion euros in private financial assets at the end of 2023 – a record. This is due to price gains on the markets and higher savings interest rates.
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 it increased by 250 billion euros compared to the third quarter. The reasons include price gains in stocks and shares in investment funds, as the Deutsche Bundesbank announced.
In addition, people put more money into higher-interest deposits with longer terms at banks and savings banks. According to the Bundesbank, profits from listed shares, shares in investment funds as well as insurance and pension claims totaled 184 billion euros in the fourth quarter.
Most of it is cash, overnight deposits and fixed-term deposits
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 call and fixed-term deposits. At the end of 2023, Germans had invested 3,214 billion in cash or at the bank in the accounts mentioned – and therefore more than in the previous period.
However, in order to calculate net financial assets, you still have to subtract debts. If you do that, it becomes clear that the net financial assets of private households also increased by 244 billion euros to 5,560 billion euros at the end of 2023 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.