The National Bank of Belgium (BNB) revealed on Wednesday that the financial assets of Belgians have fallen by €53.3 billion in the second quarter of 2022, the sharpest decline since the start of the pandemic.
Financial assets are calculated by subtracting the debts of Belgians (in loans and house loans) from the money they have in cash, bank accounts, shares, investment funds and insurance products. This figure does not include real estate.
At the end of June 2022, the BNB found that Belgians held a total of €1,145.1 billion in assets. This is €53.3 billion less than in the first quarter of 2022 – the sharpest decline since the first quarter of 2020. The BNB attributes this to falling stock market prices and rising interest rates.
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As a result, the prices of investment holdings dropped €24.2 billion. This saw the value of listed shares drop by €12.7 billion and insurance products fall €23.8 billion.
Furthermore, the personal debts of Belgians increased by €5.4 billion to €332.5 billion as of 30 June 2022. The BNB put this down due a €3.7 billion increase in mortgage loans.
