FRANKFURT (dpa-AFX) - Just over 10 trillion euros—an unimaginable record sum, a 1 followed by 13 zeros—is now held by Germany's private households. Financial assets have been rising for years, as people in Germany save like champions and, despite widespread stock market skepticism, are increasingly benefiting from rising share prices.

DZ Bank estimates that nominal financial assets in 2025 have increased by a little over six percent, or just under 600 billion euros, compared to the previous year, reaching 10.03 trillion euros.

Economist Michael Stappel, who compiles the figures for the cooperative central institution twice a year, predicts further growth for 2026: Although lower stock market gains are expected and the savings rate may drop slightly, "the absolute savings of private households will remain at the previous year's level." Under these assumptions, private financial assets are likely to grow by a good five percent in 2026, reaching 10.5 trillion euros.

Comparatively High Savings Rate

Economic uncertainty, concerns about job security, and rising prices are causing many people in Germany to hold back on purchases and save their money. According to the Federal Statistical Office, Germans did not set aside as much money in 2025 as they did the year before.

Nevertheless, the savings rate remained high in the first half of the year at 10.3 percent—also high by international standards. For every 100 euros of disposable income, people put aside an average of 10.30 euros. This corresponds to a monthly amount of just under 270 euros per capita, according to the Federal Office's calculations.

For the full year 2025, DZ Bank economist Stappel estimates the savings rate, based on data from the first three quarters, at 10.4 percent. While this would be lower than the previous year (11.2 percent), it remains above average.

Save or Invest?

However, people in Germany traditionally park a lot of money in often relatively low-interest overnight deposit accounts. Depending on the level of inflation, money held there can lose purchasing power. Last year, the interest paid on bank deposits was lower than the year before.

In contrast, many investors in the United States, for example, make more of their savings, as other analyses show: there, people invest more heavily in the stock markets.

Those in Germany who have overcome their fear of the stock market were able to benefit for the third year in a row in 2025 from strong price increases. According to DZ Bank calculations, gains in equities and funds contributed 290 billion euros to the wealth accumulation of private households.

Financial Assets Are Unevenly Distributed

Official figures on the development of private household financial assets in Germany for the final quarter of 2025 are expected from the Deutsche Bundesbank at the end of April. Both the Bundesbank and DZ Bank include cash and bank deposits, securities such as shares and funds, and claims against insurance companies in their analyses. Real estate is not included.

According to earlier figures from the Bundesbank, Germany's vast financial wealth is unevenly distributed. Around half is held by the wealthiest ten percent—about four million households. Their assets grow more rapidly because, on average, they invest more heavily in stocks and funds than poorer households. At the lower end of the scale, according to the Bundesbank, there are about 20 million households that account for only eight percent of the financial assets./ben/DP/zb