Italian households shift savings, Milan deposits fall €3.75 bn

Bank of Italy data show that deposits in Milan’s current‑account market declined by about 4% over the past four years, a loss of roughly €3.75 billion compared with April 2022. The city’s households now hold around €90 billion in current accounts, roughly 8% of Italy’s total household deposits. Across the country, total household deposits have been largely unchanged, with a marginal 0.4% decline between April 2022 and April 2026.

The fall in liquid balances reflects a broader reallocation of family savings toward higher‑yielding assets. Inflation, rising interest rates and the energy crisis have prompted many to move money into government bonds, equities, mutual funds and other investment vehicles. Nationally, total financial wealth of Italian families is estimated at about €6.5 trillion. Equity holdings rose by €293 billion (+16.4%) in the 2024‑2025 period, while bond and fund assets also grew. Deposits increased modestly by €23.5 billion (+1.5%) in the same year, now representing just over 24% of total household financial assets, second only to equities at 32%.