Germans Hold a Record € 6.6 Trillion in the BanksEU | January 2, 2020, Thursday // 19:35| views
Low interest rates haven't disturbed German depositors, and household savings have increased significantly in 2019, the BNR reported.
According to DZ Bank estimates, private households' financial assets are likely to have grown by around EUR 441 billion to a record EUR 6.6 trillion last year. This is due to the fact that the Germans are saving more money, with the share of savings probably remaining unchanged from 2018 at 11%. This means that for every € 100 we have disposable income, € 11 is set aside as savings.
Stock investors have benefited from the increase in stock market quotations.
The DZ Bank study covers bank deposits, cash, bonds and money market instruments, stocks, funds, insurance, retirement benefits and other financial contributions.