German households' financial assets rose €335 billion in Q2 2026 on market gains
The Bundesbank's quarterly financial accounts show a sharp rebound in household wealth after a weak first quarter, driven largely by valuation gains in shares and funds. The release also breaks down real returns by wealth group and reports a recovery in corporate external financing, giving compliance and treasury teams a read on household balance sheet health and financing trends.
- Households' financial assets reached €9,831 billion at end-Q2 2026, up €335 billion on the quarter, mainly from €258 billion in valuation gains.
- Capital market investments contributed €202 billion of valuation gains and investment fund shares rose €33 billion through new purchases.
- The less wealthy half of households recorded a negative real return of around -0.7% despite a slight improvement, while the aggregate real total return rose to about 3.2%.
- Households' debt ratio fell to 47.5% as liabilities grew to €2,192 billion on €12 billion of additional borrowing.
- Non-financial corporations' external financing rose to €77 billion, combining €39 billion in borrowing and €14 billion in debt securities issuance, while share issuance fell to €15 billion with net redemptions on balance.