Christmas will be tighter for many
The gross financial assets of the Hungarian population reached 106 thousand billion forints in the third quarter of 2024. The revaluation of investment certificates and listed shares also played a role in the significant increase, and their increasing proportion indicates an improvement in the financial awareness of the population. According to K&H experts, the continuation of the trend could bring further wealth growth for the Hungarian population.
The gross financial assets of the Hungarian population increased by more than 2,500 billion forints in three months – during the third quarter. This represents a daily average of 27 billion items, an annual increase of 13 percent, the latter far exceeding the 3.8-4.3 percent inflation measured in the months of the third quarter. “This also means that the population is placing increasing emphasis on savings and investments,” said Norbert Cinkotai, senior analyst at K&H Securities.
Changing composition
A significant change in savings is that while cash and deposits previously dominated, according to new data, mutual funds and listed shares are playing an increasingly important role. “This change indicates an improvement in financial awareness, as retail investors increasingly recognize that, although with greater risk, these instruments offer greater return opportunities in the long term,” the expert added.
There is nothing to complain about mutual funds and listed shares: their yield in the past two years was 2,500 billion forints. The performance of listed shares is particularly outstanding, where the yield reached 950 billion forints, which corresponds to a 43 percent increase. This significant return is primarily due to the fact that the leading indicator of the Budapest Stock Exchange, the BUX, has increased from 38 thousand to 74 thousand points in the past two years, and international investments are also increasingly popular, and their increase was also significant in forints.
Related news
This is how artificial intelligence became part of everyday life
Artificial intelligence (AI) has become an almost invisible part of…
Read more >K&H Bank wins the Euromoney Awards for Excellence 2025 “Best Digital Bank” award in Hungary
K&H Group has won this award from Euromoney for two…
Read more >Young people should also take out long-term or unexpected risk insurance
Major life milestones, such as graduating or starting a career,…
Read more >Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >