Spanish households' net financial wealth reached €2.658 trillion in March 2026, a 9.3% increase from a year earlier, according to the Bank of Spain.
The financial wealth of Spanish families continues to break records. According to data published this Thursday by the Bank of Spain, net worth —the difference between savings and debts— reached €2.658 trillion at the end of the first quarter of 2026, a 9.3% increase compared to the same period in 2025. This new record occurs despite the inflationary context and reflects the revaluation of financial assets.
Financial assets: over €3.4 trillion in the hands of households
Household financial assets —which include cash, deposits, stocks, investment funds, and insurance— totalled €3.46 trillion, an 8.15% increase from a year earlier. The Bank of Spain highlights that the increase is mainly due to rises in equity holdings and investment funds.
By type of asset, cash and deposits remain the favourite destination for families, accounting for 33.3% of the total. This is followed by equity holdings (32%), investment funds (17.3%), and insurance and pension funds (11.5%). The regulator notes a slight shift from cash towards higher-yielding products, such as equities and funds.
Household debt falls to lowest level since 1999 relative to GDP
The consolidated debt of households and companies stood at €1.798 trillion, a 2.8% increase from March 2025. Specifically for families, liabilities increased from €700 billion to €728 billion in the past year. However, in proportion to gross domestic product (GDP), the household debt ratio fell to 42.5%, the lowest level since late 1999.
Meanwhile, the debt of non-financial companies grew from €1.049 trillion to €1.07 trillion, although in GDP terms it also marked a recent historical low, at 62.5%, the lowest percentage since the third quarter of 2001. The Bank of Spain attributes this development mainly to the lower issuance of unlisted shares and other holdings, offset by the increase in other financial instruments.
As for public administrations, their consolidated asset operations represented 1.3% of GDP in the first quarter, in line with the average since 2022. On the liabilities side, operations stood at 3.6% of GDP, below the average of the last four years, due to the evolution of representative debt securities and loans.
For individual investors, this data confirms that Spanish families maintain a sound financial position, with an increasingly contained level of indebtedness and a growing exposure to higher-risk assets, such as equities. The trend suggests that households are taking advantage of market rises to rebalance their portfolios, reducing the weight of cash in favour of products with greater revaluation potential.
The Bank of Spain will update these figures with data from the second quarter of 2026 next September. Meanwhile, the record financial wealth consolidates the perception that Spanish households have weathered the high interest rate and inflation environment well, although the regulator warns that future returns will depend on the evolution of markets and the global economy.
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