Families, wealth grows in Italy: greater investments and more confidence

Less liquidity in current accounts, propensity to save intact, but search for higher returns even at the cost of higher risks. During 2023, the financial wealth of Italians grew by almost 80 billion euros and reached 5.216 billion, 552 billion more than in 2019 or before the pandemic. This is the picture outlined in a report prepared by Fabi, the autonomous banking federation. Last year, bank deposits dried up by 61 billion. In just nine months, between shares, bonds and mutual funds, Italian families have accumulated more than 144 billion in savings, with growth that is – compared to 2022 – just under 45% for bonds, 1.69% for funds mutual funds and 1.35% for mutual funds. % for the equity segment. In more detail – highlights Fabi – deposits and cash rose from 1.452 billion at the end of 2019 to 1.572 billion last September, with around 120 billion more left by Italians in deposits and current accounts, the equivalent of an increase overall 8%..3%.

In almost five years, the leadership of growth goes to bonds, with an increase of around 40% (equivalent to 106.9 billion reserved in absolute value), which will reach the stock of 375.2 billion in 2023, compared to compared to 268.3 billion in the previous 5 years. Also at the end of 2019, families held short-term securities worth 1.8 billion and 266.5 billion in medium and long-term securities, with a marked propensity for longer maturities. In the first nine months of 2023, they hold around 27.8 billion in short-term bonds and 347.4 billion in medium and long-term bonds, with a modified distribution between maturities between 7.4% for short-term term and 92.6% for medium and long term. terms. The greatest growth was also recorded in the equity sector, which recovered 32.1%, an increase of 325.5 billion. In particular, the stock of shares and other capital investments, which in 2023 equates to 7.2% of total wealth, increased by almost 1 and a half percentage points compared to 2019 levels (5.8%).

All this data, which may only appear cold in appearance, actually has significant importance, as explained by the leader of the Brothers of Italy group in the Chamber Tommaso Foti: «The report published by Fabi highlights how in the first 11 months of 2023 there was a real race by Italians to acquire BTP Italia and BTP Valore, of which they hold 13.5%. This data is also accompanied by a significant drop in shares of public securities held by foreign investors, which fell from 30.7% to 27.3%. Thanks to the prudent and coherent economic policy implemented by the Meloni government – which positively influenced the performance of the markets – Italians’ confidence is reinforced and they return to investing in their homeland.” Even the Undersecretary of Economy, Lúcia Albano (FdI), believes that «data on public bonds held by individuals confirm the confidence of families and companies in the Meloni government».

Source: IL Tempo