The third quarter brought another milestone in the financial savings of Hungarians, especially with regard to their assets held abroad. Bank360.hu analysis According to This growth increasingly shows the strengthening of confidence in foreign currency investments.
Household financial savings at historic highs
The Hungarian National Bank (MNB) based on preliminary statistics, the value of the financial assets of households reached a record amount by the end of September, for HUF 106.19 thousand billion grew. However, this data does not include real estate and movable property, only financial savings. At the same time, the amount set aside by the population in the third quarter, HUF 716.4 billionbarely a quarter of the previous quarter.
Herman Bernadetteaccording to Bank360.hu’s expert, there were two main reasons for this:
Increased expenses – The holiday season and the start of school put a significant burden on family budgets.
Real estate market recovery – Many people used their financial savings to buy real estate instead of investing in financial instruments such as government bonds or mutual funds.
Growing interest in foreign currencies
At the same time, the amount of foreign currency deposits held abroad for now over HUF 2 thousand billion increased, while the amount of domestic foreign currency deposits shows a decreasing trend. However, the Hungarian population is also happy to choose other foreign financial instruments:
in foreign bonds more than HUF 800 billion,
in foreign investment funds HUF 2040 billion,
in foreign company shares We can count on HUF 5,045.8 billion in savings.
Overall, the Hungarians are already more than 12 thousand billion forints held in foreign currency or foreign securities.
Government bonds remain popular
Although foreign investments are becoming more and more popular, the demand for Hungarian government securities is unbroken. In the third quarter, the population HUF 490 billion in new savings placed in government securities, which shows that Hungarian small investors still consider domestic financial instruments important.
Debts and social inequalities
While savings hit records, household debt also increased. By the end of the third quarter, the amount of retail loans for HUF 15,833 billion rose, which is also a historical peak.
However, it is important to note that aggregate numbers do not reflect real inequalities between households. According to the MNB’s previous survey two-thirds of financial wealth is concentrated in the hands of the wealthiest 10 percentwhile the poorer 70 percent only own a sixth of the wealth.
Summary
The financial situation of Hungarian households breaks records on paper, but at the same time it is clear that the differences in wealth are still significant. The popularity of foreign investments continues to grow due to greater security and potentially higher returns, but the persistent interest in government securities and other domestic investment forms still plays a key role in terms of long-term stability.
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