Bank360: Hungarians’ wealth hits record high, they are taking more and more money abroad

Hungarians became even richer in 2024 – according to preliminary data from the Hungarian National Bank (MNB). At least this is what happened to those families who are able to save. The financial wealth of households was 110,563.6 billion forints at the end of the year, an increase of more than 13 percent in one year. Based on this, according to the statistical average, an “average” household has 27 million forints in some kind of financial savings or investment. Hungarian families have set aside 6,800 billion forints, and more than 6 thousand billion forints of yield have also increased their accounts.

Of course, the average is obviously significantly pushed up by wealthy families with huge assets, the majority of the population does not have that much money in their bank accounts or securities accounts. The top few percent hold the largest share of financial assets, as recently published statistics on government securities support – Herman Bernadett, an expert at Bank360.hu, draws attention to the reality behind the statistical averages.

The top ten thousand may have the majority of the wealth

For example, more than 820 thousand small investors own government securities. Almost half of them, however, hold less than 5 million forints in government securities, 844 billion forints. Meanwhile, fewer than 35 thousand clients, and only 4.2 percent of small investors, hold more than 50 million forints in government securities. However, they have almost 40 percent of the stock, 4,142 billion forints. In other words, the richest 35,000 families have five times as much money in government securities as the 400,000 with the least savings.

In other, riskier investments, the difference in favor of wealthy families may be even greater. Typically, only those with savings well above average keep their money in investment funds, stocks, company shares, and foreign deposits.