Poles often hoard cash: report
PR dla Zagranicy
Alicja Baczyńska
27.04.2018 08:30
Poles often tend to hoard rather than invest their money even though they have billions in cash at their disposal, according to a report.
Photo: QuinceMedia/pixabay.com/CC0 Creative Commons
The total cash holdings of Poles are estimated at around PLN 179 billion (EUR 42.22 bn, USD 51.40 bn), while their total financial assets were worth PLN 2 trillion last year, the money.pl website has reported.
Meanwhile, a third of Poles’ financial assets are stashed away “under the mattress” or sitting idle in non-interest-bearing accounts, money.pl said.
According to the National Bank of Poland (NBP), Poles’ financial assets in 2017 were PLN 114 billion higher than the year before and nearly twice as high as in 2009.
The increase was to an extent due to bullish trends on the Warsaw Stock Exchange. Shares in listed companies and investment fund shares owned by Poles grew by PLN 47 billion in value last year, according to the website.
(aba/gs)
Source: Money.pl
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