Statistical news focuses on the latest figures and trends in Danmarks Nationalbank’s statistics. Statistical news is targeted at people who want quick insight into current financial data.
Tax refunds contribute to increase in Danish households’ deposits
Danish households’ deposits increased by DKK 24.9 billion in April, bringing total deposits to DKK 1,294 billion. The rise in April was supported by the payment of excess tax refunds for 2025 to many households, while fewer had to make tax payments. Although the net tax payout is slightly higher this year compared with last year, the increase in deposits in April is somewhat smaller. Overall, however, the trend remains that Danish households’ total deposits continue to grow. The development in total deposits does not necessarily imply that all households have seen an increase in their bank balances. Deposits vary widely across households, and the typical Dane holds a significantly lower level of deposits than the average, while a smaller share of households holds substantially higher deposits.
Danish household deposits rose again to a new record
Note:
The figure shows the development in deposits held by Danish households (sector 1430, employees, pensioners, etc.) over the period from January 2018 to April 2026. Data can be found in the StatBank (link).
Deposits and investments have followed a similar trend
In addition to saving in bank deposit accounts1, Danish households invest extensively in securities (equities, bonds and investment fund certificates). Since 2018, the relationship between the value of households’ bank deposits and their direct holdings of securities has remained broadly stable. At present, deposits account for around 52 per cent of households’ total savings held in deposits and securities.
While the level of deposits primarily reflects households’ own saving decisions, the value of their securities holdings also depends heavily on developments in market prices. Despite fluctuations, generally rising asset prices over time have contributed to a significant increase in the value of households’ securities holdings. Since the end of the COVID-19 period in 2022, however, households have to a limited extent added new funds to further investments.
Stable distribution between deposits and investments
Note:
The deposit share is calculated as deposits as a proportion of Danish households’ (sector 1430, employees, pensioners, etc.) total deposits and their direct holdings of investments in securities. The average is calculated for the period from January 2018 to April 2026.