The Bank of Spain published the Financial Accounts of the Spanish Economy for the third quarter of 2025, showing that household and non-profit institutions serving households (NPISH) debt fell to 43.1% of GDP and consolidated non-financial corporate debt to 61.4% of GDP, both at their lowest levels in around 25 years. Household net financial wealth rose to 153.7% of GDP. In absolute terms, consolidated household debt stood at EUR 714bn and corporate debt at EUR 1,018bn in September 2025. Household gross financial assets reached 200.7% of GDP and net financial wealth EUR 2,546bn, with the increase mainly explained by asset revaluations, especially equity and investment fund holdings; cash and deposits accounted for 33.9% of assets, at a 30-year low, while equity and fund holdings were close to a maximum. Over the four quarters to the third quarter of 2025, households’ acquisitions of financial assets rose to EUR 94bn (5.7% of GDP) and net liability transactions to 2.0% of GDP, driven by loans (1.5% of GDP). For non-financial corporations, acquisitions of financial assets totalled EUR 70bn (4.2% of GDP) and liability transactions 2.8% of GDP. Financial sector assets were 343% of GDP, while monetary financial institutions’ lending flows increased to 3.4% of GDP and rose across all resident sectors, particularly households. Net financial transactions across all resident sectors were positive at EUR 72bn (4.3% of GDP), the highest share in 30 years, while general government net financial transactions were -3.0% of GDP. The Bank of Spain indicated that the Financial Accounts for the fourth quarter of 2025 will be published on 10 April 2026.
Bank of Spain updates financial accounts showing household and corporate debt falling to 43.1% and 61.4% of GDP
The Bank of Spain released the Financial Accounts of the Spanish Economy for Q3 2025, revealing household and NPISH debt at 43.1% of GDP and corporate debt at 61.4% of GDP, both at 25-year lows. Household net financial wealth increased to 153.7% of GDP, driven by asset revaluations, while financial sector assets reached 343% of GDP. Net financial transactions across all resident sectors were positive at EUR 72bn, the highest in 30 years.