The net financial assets of households increased to HUF 73,974 billion

By: Trademagazin Date: 2023. 08. 18. 12:17

2023 II. by the end of the quarter, the total financial assets of households increased to HUF 88,437 billion, which is an increase of HUF 2,089 billion compared to the previous quarter, and the increase is HUF 7,902 billion on an annual basis. The level of household liabilities was HUF 14,463 billion, a quarterly decrease of HUF 62 billion, while the annual change was an increase of HUF 636 billion. Thus, as a result of the two, the net financial assets increased by HUF 2,150 billion in the quarter to HUF 73,974 billion, and the net financing capacity of households remains significant, accounting for 11.2% of the quarterly GDP – writes András Horváth, MBH Bank’s senior analyst.

On a transactional basis, the change in wealth played a role in the fact that the cash stock decreased again after a long time, by 61 billion forints, and the stock of demand deposits decreased by 391 billion forints. Apparently, inflationary expectations are still strong in the decisions of households, as well as for maintaining the level of consumption/advancing consumption. additional resources are required. Meanwhile, the stock of “term deposits” decreased by 56 billion. Again, the long-term bond portfolio increased by HUF 757 billion, mainly thanks to the continuous increase in the PMÁP portfolio, while the population increased its portfolio of short-term bonds by HUF 43 billion. Stock market shares were sold by households for HUF 44 billion in the quarter, while the quarterly net transaction of investment shares was still outstanding, at HUF 632 billion, and households invested HUF 67 billion in insurance.

In addition, revaluations also significantly affected the wealth of households. In line with the global rally, the profit on stock market shares was HUF 185 billion, investment units were able to show a HUF 173 billion plus, and the revaluation of household insurance instruments showed a HUF 144 billion plus. The value of household assets in private companies went down, the negative revaluation was HUF 331 billion, and there was a HUF 113 billion loss on currencies and foreign currency deposits due to the change in the HUF exchange rate. On a transactional basis, the stock of loan liabilities showed a surplus of HUF 129 billion, within which the stock of short-term loans increased by HUF 32 billion, while the stock of long-term, primarily real estate and longer-term personal loans increased by HUF 97 billion.

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