Wealth Gap Widens in Türkiye as Number of Millionaires Surges Past 2.3 Million

As of April 2025, the number of individuals in Türkiye holding at least 1 million Turkish lira (TL) or more in bank deposits has surpassed 2.3 million, marking a 49% increase over the past year. The total deposit volume in the country is now approaching 17 trillion TL, reflecting not only growing wealth but also deepening inequality, according to new data from Türkiye’s Banking Regulation and Supervision Agency (BDDK).

From 1.59 to 2.37 Million Millionaires in Just 12 Months

In April 2024, Türkiye had approximately 1.59 million lira millionaires. Fast forward to April 2025, and that figure has climbed to 2,377,032—an increase of nearly 785,000 people in just one year.

Total Millionaire Wealth Nears 17 Trillion TL

The total assets held in millionaire accounts have also grown significantly, rising from 11.8 trillion TL in 2024 to 16.99 trillion TL in 2025—a surge of nearly 44% year-over-year.

Among domestically based individuals, the number of millionaires reached 2,176,939, collectively holding:

• 10.05 trillion TL in Turkish lira deposits

• 4.47 trillion TL in foreign currency accounts

• 1.21 trillion TL in precious metal deposit accounts

This puts the average deposit per domestic millionaire at approximately 7.23 million TL.

Millionaires Abroad Also on the Rise

The number of millionaires residing abroad has grown to 200,093, up by nearly 40,800 people in a year. Their total deposits reached 391 billion TL, with an increase of 278.4 billion TL over the same period.

78% of Deposits Belong to 2.1 Million People

BDDK data reveals a striking concentration of wealth: 78% of total bank deposits in Türkiye are owned by just 2.1 million people. These individuals collectively hold 15.3 trillion TL in their accounts.

In contrast, there are over 163 million bank accounts with less than 10,000 TL. This suggests that while many people may have multiple accounts, the vast majority of citizens possess minimal savings.

The Rich Are Getting Richer, the Poor Poorer

Back in 2020, millionaires held 55.37% of total deposits in Türkiye. Today, that share has grown dramatically. Meanwhile, the share of small savers—those with under 10,000 TL—has plummeted from 2.69% in 2020 to just 0.7% in 2025.

In just five years, the gap between high-net-worth individuals and average citizens has widened dramatically, indicating a steady erosion of financial equality.

CBRT Confirms the Surge in Deposits

Data from the Central Bank of the Republic of Türkiye (CBRT) supports the upward trend:

• Total deposits in Turkish lira: 11.75 trillion TL (4.12% increase)

• Total foreign currency deposits: 6.42 trillion TL (1.19% increase)

• Total foreign exchange in banks: $192.8 billion, of which $164.1 billion is held by domestic residents

Stripping out exchange rate effects, domestic residents increased their foreign currency holdings by a net $1.37 billion in one week.

Türkiye’s Financial Inequality Is Deepening

The data paints a stark picture of Türkiye’s financial landscape: while a small, wealthy segment accumulates a growing share of national deposits, millions of citizens remain limited to small or symbolic savings.

With inequality entrenched and accelerating, the socioeconomic divide appears poised to widen further—unless policy action is taken to promote broader wealth distribution and savings accessibility.