Turkey's savings deposits soared to TL 1.153 trillion in 2018, up by 24 percent from the end of 2017, according to Turkish Statistical Institute (TurkStat) and Banking Regulation and Supervision Agency (BDDK) data.
Meanwhile, per capita savings reached TL 14,070 in 2018, when Turkey's population exceeded 82 million. The amount was TL 11,512 at the end of 2017.
Individual savings in Turkey in the one-year period increased by an average of TL 2,558, which proved the impact of savings-related measures on investments and current account deficit.
Per capita savings in Istanbul reached TL 32,538 at the end of 2018, making Istanbul the city with the highest per capita savings, followed by Muğla at TL 21,120, Ankara at TL 20,665, İzmir at TL 19,083 and Antalya at TL 15,152. The amount of per capita savings in these five provinces stood above the average.
Also, per capita savings in Yalova, Tunceli, Uşak, Eskişehir, Denizli, Balıkesir, Aydın, Edirne, Kırklareli, Çanakkale, Trabzon, Bursa, Isparta, Zonguldak, Kocaeli, Nevşehir and Mersin exceeded TL 10,000.
A total of 42.5 percent of overall savings accumulated in Istanbul. The city, hosting more than 15 million people, had a total of around TL 490.27 billion in savings in 2018, up by 22.3 percent compared to 2017 when the city had TL 400.65 billion in savings deposits.
Istanbul was followed by Ankara with TL 113.74 billion in savings deposits, İzmir with TL 82.45 billion and Antalya with TL 36.76 billion.