Despite all the crises, Germans increased their wealth in 2024. DZ Bank, Germany's second-largest bank, has calculated how much wealth Germans accumulated in the past year.
Over 9 trillion euros, an increase of 6 percent
Cumulatively, German households have accumulated record high savings: 9.3 trillion euros (9,334 billion), according to data from DZ Bank, which has around 700 cooperative banks. According to preliminary calculations, as a result, the financial assets of Germans have increased by almost six percent. This increase in capital was also due to the positive dynamics of the stock market.
A similar situation was observed in 2023, when the growth in share prices in total provided their owners with a plus of 200 billion euros. As DZ Bank analysts point out, Germans hold approximately 20% of their capital in securities. Thus, the main German stock exchange index DAX grew by almost 19% in 2024, rising to the mark of 19,900 points.
Germans remain savers
Although the positive dynamics of the stock market pleases analysts, the second most important factor in the increase in private wealth probably worries them. Total wealth has also grown thanks to the “national” characteristic of Germans - thrift! The savings rate in 2024 was 11.5%, DZ Bank reports.
In historical retrospect, this is a very high indicator. Germans saved more only in 2020 and 2021 - during the Covid pandemic.
“Inflation, Germany's new energy policy and the collapse of the country's ruling coalition are making consumers worried. This explains the fact that many people keep their money with them - most of it is in deposit accounts and thus loses its real value“, explains DZ Bank economist Michael Stapel.
The largest share of private household savings is taken up by cash and deposits - 37%. “Life“ insurance is also one of the most preferred investments in Germany. According to preliminary estimates by the bank's economists, the deposits have brought Germans about 30 billion euros.
In 2025, Germans will continue to save money
The forecast for 2025 is optimistic: Germans will increase their wealth. However, the growth will be more moderate, as analysts do not expect such high returns from investments in securities and predict a decrease in the share of savings. The total wealth of Germans in 2025 should grow by 4% to 9.8 trillion euros.
In any case, even in 2025, Germans will definitely remain true to their love of thrift. A representative study by the online portal Statista shows that “saving more“ is among the most popular “good intentions” of Germans in 2025: 55% of respondents said they would like to save more than before.