The year 2024 marked another record-breaking period for household financial assets worldwide, which grew by 8.7%. Half of this growth came from the United States.
In Poland, household financial assets rose by 9.8% – the strongest growth in four years. New savings by Polish households increased by 63% to a record €51 billion.
Global and Polish Growth Trends
2024 was another year of global economic expansion, and at the same time, a record year for household financial assets. The 8.7% global growth rate even surpassed the strong results recorded in 2023. By the end of 2024, total financial assets reached €269 trillion worldwide.
In Poland, gross household financial assets rose by 9.8% – the highest pace in four years. Growth was recorded across all asset classes: securities rose by 10.6%, bank deposits by 9.5%, and insurance and pension products by 6.9%.
Record-High Savings
The value of new household savings increased by 63% compared to the previous year, reaching a record €51 billion. This figure surpassed the previous peak recorded in 2020. While securities were the fastest-growing asset class, most new savings – as much as 70% – were allocated to bank deposits. Deposits remain the largest component of Polish household financial portfolios, accounting for 52% of total assets. The remainder was mainly invested in insurance and pension products.
On the liabilities side, Polish household debt rose by only 2.6% in 2024. With assets growing much faster than liabilities, the household debt-to-GDP ratio continued to decline, falling to 30% – 14 percentage points below the 2016 peak.
Conservative Structure of Savings
“Polish households recorded very solid financial asset growth in 2024, which may reflect increasing awareness of the need to save. At the same time, the savings structure remains highly conservative, dominated by bank deposits. This shows that building greater investment awareness is still a challenge, one that would enable Poles to diversify their portfolios and fully benefit from the opportunities offered by capital markets and different asset classes,” emphasized Robert Hörberg, CEO of Allianz TFI Polska.
Source: CEO.com.pl
