The value of households’ net financial assets (assets less liabilities) increased by 7.4% y-o-y and by 2.6% q-o-q and amounted to PLN 2,030,025 million at the end of Q1 2023, exceeding PLN 2 trillion for the first time ever, the Polish Development Fund (PFR) Analysis Office said.
“The value of total household financial assets stood at the end of Q1 2023. PLN 2,849,903 million, which was 3.5% higher than at the end of Q1 2022 and 1.5% higher than at the end of Q4 2022. Household net financial assets (assets less liabilities) stood at the end of Q1 2023. PLN 2 030 025 million, which was 7.4% higher than at the end of the first quarter of 2022 and 2.6% higher than at the end of the fourth quarter of 2022. Net asset value exceeded PLN 2 trillion for the first time ever,” according to the report.
The largest item in household financial assets in Q2 2023 was clearing current deposits, which accounted for 27.5% of assets. The second most important asset was other equities, which accounted for 13.9% of total assets. In third place – ahead of cash – were other deposits, which accounted for 12.8% of financial assets. These three items accounted for more than 54% of household financial assets, the report indicated.
The net asset value of defined date funds (DCFs) amounted to PLN 16,685 million at the end of Q2 2023. PLN 16,685 million. The value of assets in PPKs has been growing continuously since the start of the programme. In Q2 2023, assets increased by 16.3% quarter-on-quarter, with an annualised increase of 59.3%, the report further reads.
Financial assets are assets accumulated by households in the form of cash, savings deposits, insurance policies, voluntary pension schemes, mutual fund shares, stocks and bonds and other financial assets, as well as loans receivable from individuals.
Source: PFR and ISBnews
