Netherlands' De Nederlandsche Bank published new statistics showing Dutch households increased their savings in 2024, taking holdings in payment and savings accounts at Dutch banks to a record EUR 600.5 billion at end-December 2024. Deposits rose by EUR 24.2 billion over the year, compared with EUR 14.9 billion in 2023, while households also held around EUR 16 billion in savings abroad. The increase was driven entirely by savings accounts, which rose to EUR 487.1 billion from EUR 458.9 billion, while balances in payment accounts fell by EUR 4.0 billion to EUR 113.4 billion. Deposits redeemable at notice remained the largest component at EUR 395.3 billion (66% of deposits), but fixed-term deposits with agreed maturity increased their share to 15.3% by end-2024 (EUR 91.8 billion), with EUR 857 million of interest paid on these accounts in 2024 and most of the growth in maturities of up to one year. DNB pointed to rising wages and precautionary saving amid inflation as possible drivers and noted that households also repaid more debt in 2024, reducing total household debt.
De Nederlandsche Bank 2025-01-30
Netherlands' De Nederlandsche Bank reports Dutch households hold record EUR 600.5 billion in bank deposits
De Nederlandsche Bank reported that Dutch household savings reached a record EUR 600.5 billion by the end of 2024, with a EUR 24.2 billion increase in deposits compared to 2023. Savings accounts rose to EUR 487.1 billion, while payment account balances decreased by EUR 4.0 billion. Rising wages and precautionary saving amid inflation were cited as potential factors, alongside increased debt repayment by households.