German savers are not being deterred by continued low interest rates, with households piling up trillions in financial assets in 2019.
According to calculations by DZ Bank, which are available to dpa, the financial assets of private households are likely to have increased by around 441 billion euros (493 billion dollars) to a record value of 6.6 trillion euros in 2019.
The bulk of the increase was due to people in Germany saving more money. The savings ratio is likely to have levelled off at 2018's level of around 11 per cent.
This means that of every 100 euros of disposable income, 11 euros are being saved. Shareholders also benefitedfromrising stock prices.
The study by DZ Bank counts bank deposits, cash, bonds and money market instruments, shares, funds, insurances as well as claims from pension insurances and other financial participations.
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