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Croatia’s Wealth Divide: Most Save Under €1,000, Few Hold Over a Million

The Croatian National Bank (HNB) has released data revealing that the majority of Croatians, about 1.7 million, have bank savings of up to €1,000. In stark contrast, 964 individuals boast savings exceeding €1,000,000.

As of June 2023, there were 3,299,342 citizens with bank deposits totalling 35.2 billion euros in various credit institutions across Croatia. This sum encompasses all deposits from known account holders, including assets in transaction accounts and both sight and term deposits.

The data further indicates a significant wealth disparity among savers. A majority, 51.2% (1.7 million), hold savings up to 1,000 euros, amounting to just 0.96% (over 337 million euros) of the total savings. Another 20.8% of savers, around 685,000 individuals, have savings between 1,000 euros and 5,000 euros, totalling approximately 1.7 billion euros, about 4.9% of the total.

Croatia, Jadran

Additionally, approximately 288,000 citizens (8.7%) possess savings in the range of 5,000 euros to 10,000 euros, amounting to over 2 billion euros or 5.8% of the total savings. Those with less than 10,000 euros in savings collectively hold less than 12% of the total bank deposits.

Conversely, a significant portion of the wealth is concentrated in the hands of a few. Over 578,000 Croatians, representing about 17% of savers, have savings between 10,000 euros and 100,000euros, holding nearly half (49%) of the total deposits, amounting to 17.4 billion euros.

The data strikingly highlights that less than 2% of bank clients control approximately 39% of the total deposits, underlining a substantial wealth gap within the Croatian banking sector.

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