More Croatians holding money in bank as inequality gradually narrows

Croatian National Bank in Zagreb

ZAGREB, 4 July 2025 (Hina) – The number of Croatians with a positive bank account balance reached almost 3.42 million at the end of 2024, an increase of over 68,000 compared to the previous year, according to a new analysis published by the Croatian National Bank (HNB) on Friday.

The total value of deposits also rose, increasing by 4.6 percent to reach €38.12 billion. This growth came alongside a continued trend of narrowing inequality in the distribution of financial resources among Croatian citizens.

According to the HNB, the increase in the number of people with money in the bank reflects two key developments: a net inflow of 32,000 citizens opening new accounts and a net inflow of 35,000 people who previously had no funds in their accounts or were regularly overdrawn.

Deposit amounts grew across all levels of the population, with the largest relative increases seen in lower income groups. Deposits in the first seven decile groups rose by a combined 12.9 percent, compared to a 4.1 percent rise in the top three deciles.

This reflects the relatively low deposit growth in the wealthiest segment.

However, in absolute terms, the largest increases were still recorded among wealthier citizens. Deposits in the tenth, or highest, decile rose by €742 million, while the ninth and eighth deciles saw increases of €428 million and €250 million respectively.

Growth gradually decreased across the lower income groups.

The HNB noted that the share of total deposits held by citizens in the middle and upper-middle ranges has increased slightly, at the expense of those at the very top of the distribution.

Specifically, the share of total deposits held by the first seven deciles – individuals with deposits under €5,000 – increased modestly from 5.2 to 5.6 percent, mainly due to growth in the fifth, sixth and seventh decile groups.

Meanwhile, citizens in the eighth and ninth deciles – with deposits between €5,000 and €26,000 – saw their share rise from 20.8 to 21.7 percent.

This increase came at the expense of the wealthiest group, those with deposits over €26,000, especially those with more than €49,000, whose share of total funds fell from 58.2 to 56.9 percent.

Only a Partial Picture of Wealth

Since 2023, the HNB has been collecting annual data on the bank account balances of Croatian residents. The data includes funds on current, savings and term accounts across all banks and housing savings institutions in Croatia.

However, these figures only provide a partial picture of overall wealth inequality. They do not include other financial assets such as investments in funds, shares or bonds, nor do they account for non-financial assets such as real estate.

Additionally, the data is recorded at the individual account holder level, not by household, which makes it difficult to compare with typical measures of income and wealth distribution.

Lastly, the analysis includes only those with at least one account showing a positive balance, regardless of whether they also have debts or overdrafts.

The latest figures reflect a cautiously positive trend in terms of financial inclusion, with more Croatians holding funds in their accounts and a slight shift in deposit share away from the very wealthiest individuals.