Just over €10 trillion—this staggering record sum, a one followed by thirteen zeros—is what private households in Germany now call their own. Financial assets have been growing for years as residents save exceptionally actively and, despite widespread skepticism toward the stock market, increasingly profit from rising share prices.
In its forecast, DZ Bank estimates that nominal financial assets increased by more than six percent in 2025—or nearly €600 billion—compared to the previous year, reaching €10.03 trillion. Economist Michael Stappel, who compiles data semi-annually for the central institute of the cooperative banking sector, predicted further growth for 2026. Although lower price gains are expected on the exchanges and the savings rate may dip slightly, he noted: “The absolute volume of private household savings will remain at last year’s level.” Based on these assumptions, private financial assets could grow by more than five percent in 2026 to reach €10.5 trillion.
Economic uncertainty, concerns over job security, and high prices have led many in Germany to refrain from major purchases and instead prioritize saving. According to the Federal Statistical Office, citizens did not put away quite as much money in 2025 as they did the year prior. Nevertheless, the savings rate in the first half of the year stood at 10.3 percent, which remains high by international standards. For every €100 of disposable income, people saved an average of €10.30. According to the agency’s calculations, this corresponds to a monthly sum of nearly €270 per resident.
For the full year of 2025, DZ Bank economist Stappel estimated a savings rate of 10.4 percent based on data from the first three quarters. While lower than the previous year (11.2 percent), it remains above average levels.
However, Germans traditionally keep a large portion of their money in instant-access accounts, which often pay relatively low interest. Depending on the inflation rate, money held there loses purchasing power. Last year, interest rates on bank deposits were lower than the year before. In contrast, many investors elsewhere—for example, in the United States—derive more benefit from their savings by investing more heavily in equity markets.
Those in Germany who managed to overcome their fear of the stock market were able to benefit from significant price growth for the third consecutive year in 2025. According to DZ Bank calculations, value increases in stocks and funds amounting to €290 billion made a substantial contribution to private household capital accumulation.
Official data on the development of private household financial assets in Germany for the final quarter of 2025 is expected from the Deutsche Bundesbank at the end of April. Both the Bundesbank and DZ Bank include cash, bank deposits, securities (such as stocks and funds), and claims against insurance companies in their analyses. Real estate is not included in these specific calculations.
According to previous Bundesbank data, the massive financial assets in Germany are distributed unevenly. Approximately half of the total assets belong to the wealthiest ten percent—roughly four million households. Wealth in this group increases more intensively as they invest significantly more in stocks and funds compared to less affluent segments of the population. At the bottom of the scale, according to the Bundesbank, are approximately 20 million households that account for only eight percent of total financial assets.
Источник: dpa
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