MNB: On Average, a Hungarian Household Has HUF 13 Million in Savings


The financial savings per Hungarian household this year approached the HUF 13 million average, Bankmonitor reports based on the latest statistics of the Magyar Nemzeti Bank.

According to the survey, the stock of financial savings held by households rose to over HUF 54,000 billion in the second quarter of 2023. The most popular investments are bank deposits, government securities, mutual funds and cash: these accounted for 78 percent of financial savings. Financial savings have almost tripled in nominal terms since 2010, although looking at inflation-adjusted values, we can already see a much more moderate increase. Due to inflation, in the first quarter of this year, the amount of real assets already fell by 13.1 percent compared to the peak. It can also be observed that there have been changes in the portfolios due to the price increases: in three quarters approx. The amount of investments held in bank deposits decreased by 11 percent, while the stock of government securities increased by 19 percent thanks to more favorable interest rates, but assets held in investment units also increased by 44 percent in one year.

In Hungary, 83 percent of financial savings are concentrated in the richest 30 percent of households, while the poorest 30 percent of households only have more than 5 percent of savings based on the data of the household wealth survey, which is completed every 3 years, and was last published in 2022.


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