The Bank of Spain confirms that the net financial wealth of households has reached a new high of €2.658 trillion, while debt to GDP has decreased to 42.5%, the lowest level since 1999.
The net financial wealth of Spanish households has achieved a historic record of €2.658 trillion by the end of the first quarter of 2026, according to the latest data from the Financial Accounts of the Bank of Spain. This figure represents a year-on-year increase of 9.3% and mainly reflects the revaluation of financial assets such as stocks and investment funds. The banking supervisor highlights that this growth is not due to exceptional current savings, but rather to the strong performance of the markets.
The revaluation of assets drives the wealth record
The total financial assets of households — which include cash, deposits, stocks, funds, insurance, and pension plans — amounted to €3.46 trillion, an 8.15% increase compared to a year earlier. However, the Bank of Spain warns that the increase is not evenly distributed: the assets that have appreciated the most, such as business shares and investment funds, are concentrated in households with greater savings capacity. Therefore, although the overall figure is positive, not all pockets benefit equally.
The report reveals a significant change in the composition of savings. Cash and bank deposits now only represent 33.3% of the total, compared to 32% for business shares and 17.3% for investment funds. Insurance and pension plans complete 11.5%. This trend indicates that more and more families are shifting part of their savings from conservative products to options with greater potential for returns, combining security with long-term investment.
Household debt falls to the lowest level since 1999
The other major data point from the Financial Accounts is the reduction in indebtedness. Although the absolute debt of families has slightly increased to €728 billion, its weight on GDP has fallen to 42.5%, the lowest level since late 1999. This deleveraging process has been maintained thanks to loan amortization, economic growth, and an increase in disposable income. For the average consumer, a lighter debt burden is synonymous with greater financial solidity and the ability to face unforeseen events or interest rate hikes.
That the net worth of families reaches a historic high is good news, but it is important to remember that this growth does not reach all households equally, as the Bank of Spain itself warns.
Companies have also improved their financial health: their leverage has decreased to 62.5% of GDP, the lowest value since 2001. Overall, the Spanish private sector presents a scenario of greater solidity. The net financial wealth of households now equals 155.3% of GDP, clearly surpassing the average since 2022. This reflects that the saving and investment capacity of households is growing faster than the economy, a trend that, if well directed, can translate into greater peace of mind for every pocket.
For those without large investments, practical advice is to review the diversification of savings, inform themselves about products suited to their profile, and prioritize reducing high-interest debts. A robust family economy involves combining secure savings, diversified investments, and debt control.
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