Financial, Italians’ Investments More Diversified, ABI

Need to Build a Savings and Investments Union in Europe

ABI’s new analysis of household wealth highlights a further strength of Italian households: greater financial diversification, with a more diverse composition than the eurozone average.

The financial market component (listed shares, mutual funds, debt securities, insurance, and pension funds) represents 21.3% of Italian households’ total wealth, compared to the eurozone average of 19.4% (Germany 21.2%, France 18.0%, Spain 11.2%). This is primarily due to the greater prevalence of mutual funds, which account for 6.9% in Italy versus 4.6% in the eurozone (Germany 5.8%, France 2.4%, Spain 5.4%).

Another distinctive feature of Italian savings is the importance of direct investment in debt securities (government bonds and bonds): investments in government bonds account for 2.5% of household wealth in Italy, compared to an average of 0.5% in the eurozone (0.1% in Germany, 0.2% in France, and 0.3% in Spain).

Other debt securities, other than government bonds, account for 1.5% in Italy, compared to 0.7% in the eurozone.

The share of listed shares is lower (1.4% compared to the euro area average of 2%) and insurance and pension products, which account for 9.1%, 2.5 percentage points less than the European average (11.6%).

To further enhance household wealth and channel resources towards businesses and long-term investments, the ABI emphasizes the need to create a Savings and Investments Union in Europe.

August 2, 2025

Source Italian Banking Association