Portugal savings in Certificados de Aforro reach record high

Investment in Certificados de Aforro (Savings Certificates) reached a new historical peak in September, totaling 45,391 million euros. According to data from the Banco de Portugal, this represents a 16.3% increase compared to the same month last year and marks the 24th consecutive month of growth.

In contrast, investment in Certificados do Tesouro (Treasury Certificates) continued to decline, falling 1.71% from August to 6,331 million euros. This marks the 59th consecutive month of decline for Treasury Certificates, reaching their lowest level since December 2014. Despite the introduction of the new Series 5 with higher interest rates, redemptions of previous series continue to outpace new subscriptions.

Combined, the two products represent 51,722 million euros, a 1.33% increase from August. Savings Certificates now account for approximately 88% of the total capital applied to these two state debt instruments.