Danish savings continue to grow

Danish bank deposits have increased to a record 1,183 billion kroner in August, rising by 15 billion from the previous month, as per the latest figures from the National Bank. Economist Brian Friis Helmer from Arbejdernes Landsbank highlights the strength of the Danish economy, pointing to indicators such as record-high employment, timely debt payments, and real wage growth. If distributed evenly, each adult Dane would have 245,000 kroner in savings, although the actual distribution is unequal. Since crossing the 1,000 billion kroner mark in 2020, bank deposits have seen an addition of 183 billion kroner, with 91 billion added in the current year alone. The trend is expected to continue with potential for further savings and consumption, according to Anne-Louise Lindkvist from Sampension.