The National Bank of Denmark published April 2026 banking and mortgage credit statistics showing that Danish households’ deposits increased by DKK 24.9 billion to a record DKK 1,294 billion. The increase was supported by payments of excess tax refunds for 2025 to many households and by fewer households having to make tax payments. Although the net tax payout was slightly higher than a year earlier, the April increase in deposits was somewhat smaller, while the overall trend in total household deposits remained upward. The bank noted that aggregate growth does not mean all households saw higher balances, as deposits vary widely and the typical Dane holds substantially less than the average. It also highlighted that deposits and direct securities holdings have followed a broadly similar trend since 2018, with deposits currently accounting for around 52 per cent of households’ combined savings in deposits and securities. Over time, rising market prices have driven much of the increase in securities values, while households have added only limited new funds to securities investments since the end of the COVID-19 period in 2022.
National Bank of Denmark2026-06-01
National Bank of Denmark reports Danish household deposits rise to record DKK 1,294 billion on tax refunds
The National Bank of Denmark reported that Danish households’ deposits rose by DKK 24.9 billion in April 2026 to a record DKK 1,294 billion, driven by excess tax refunds and fewer tax payments. It noted that deposit growth remains on an upward trend but is uneven across households, and that deposits now account for around 52% of households’ combined savings in deposits and securities, with most securities growth since 2018 stemming from market price increases rather than new investments.