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Remuneration policy 


Objective of the Remuneration Policy is determining principles and procedures in written form which shall contribute to effective risk management preventing extreme risk taking for ensuring compliance of the Bank with its strategies, long-term targets and risk structure, within the framework of Banking Regulation and Supervision Agency and Capital Markets Board’s Corporate Governance Principles.

By the Remuneration Policy structured to gain, protect, award and motivate human resources required for sustainable success, it is also intended to avoid risks that may arise from practices or behaviours which may affect customers, stakeholders or markets negatively causing customer loss, financial penalty or loss of reputation.   


The Remuneration Policy determines Remuneration principles and rules which are effective for the Board of Directors, Chief Executive Officer, Executive Vice Presidents and all bank employees.

In case there is a Union with definite authority and a Collective Bargaining Agreement in effect at the Bank, remuneration and personal benefits of the employees which shall be within the scope of the Collective Bargaining Agreement (Employees within the Scope) are determined by the Collective Bargaining Agreement. Payments made to the “Employees within the Scope” and not arranged by the Collective Bargaining Agreement and remuneration and personal benefits of all employees other than “Employees within the Scope” are determined by this policy document.


Remuneration: Wages to be paid to the Members of the Board of Directors, Top Management and other personnel are in compliance with the Bank’s ethical values, internal balances and strategical targets. All employee remunerations are determined by considering the responsibilities they undertake.

Components of remuneration: Remuneration is composed of fixed and variable components. Fixed remuneration is determined as gross, taking into account the criteria such as size and nature of the job performed and the employee’s professional experience. It includes payments such as wages, bonuses and compensation.

Variable remuneration is cash and non-cash amounts paid based on an employee's performance. It is ensured that the components of fixed and variable remuneration are balanced which prevent assumption of excessive risks.

Equal pay for equal work: Wages of all our employees are managed by wage ranges determined for each level. To ensure wage justice, it is intended to pay a similar wage to employees performing similar duties. For this purpose, levels of the duties are determined by depending on the authorities and responsibilities. Wage levels and ranges are reviewed at each term of wage increase. 

Awarding high performance: It is intended to have the employees showing performance over the expected level according to the Performance Assessment System results get higher wage increase and higher bonus payments.

Payments based on performance: In Remuneration and bonus studies, performance measures of the relevant periods are taken into consideration. Payment amounts based on performance, primarily the bonus payments, are not guaranteed in advance.

Bonus payments to the employees of the units covered by the internal systems will be determined by taking into consideration the performance of the relevant employees in their own units and functions, independently from the performance of the departments they supervise or control.

Confidentiality of wage: Privacy and confidentiality of the wages and other financial payments at the Bank are essential. Breach of confidentiality by an employee is a subject of the disciplinary board.


Remuneration Policy and practices are one of the important factors in ensuring employee engagement and developing performance. While determining Remuneration Policy prepared to gain new talents to our company and protect our employees with high performance, the following issues are considered.     

4.1.  Internal factors:

When wage structure of the Bank is determined;

  • Wage balance within the Bank and budget opportunities,
  • Job definition and responsibility level of the employees,
  • Personal performance each employee displays,
  • Competencies of the employee,
  • Compliance with the Bank’s internal and external regulations

are taken into consideration.

4.2.  External factors:

While the Bank’s wage policy is determined, sectoral data are considered to compete with the sector, gain new talents to our company and reduce turnover. While designing the employees’ wage and premium model, the Bank’s position in the sector is regarded according to the results of the Banking Sector wage survey conducted by some independent institutions. 


General practicing principles of the Remuneration Policy are as the following.

5.1.  Financial Rights Provided for the Executives:

Pursuant to the Corporate Governance Principles, rights to be provided for the members of the Board of Directors and Remuneration principles are determined by the Remuneration Committee by the approval of the Board of Directors on the basis of the authority to be given by the General Assembly.

5.2.  Wage Increases:

  • Wage increase is made once a year.
  • In determining increase budget in wage increase periods the following criteria are taken as the basis and submitted to the approval of the management.
    • Rates of inflation of the previous periods
    • Fields where competitive policies shall be applied
    • Position of the Bank in the sector
  • It is intended to ensure applying similar wage policy to equal work and individual differentiations to be performance based.
  • To award high performance, employees who are below the average of Bank wage range according to the wage level but display high performance receive higher wage increase.
  • Position of the Bank in the sector is determined by analysing wage surveys conducted by independent consultancy firms to determine the position of the Bank in the sector.
  • Wage increase information of the relevant period is shared with the employees.

5.3.  Determining New Wages After Promotion or Duty Change:

In case there is a change in the wage level of the employees who are promoted or have a change in duty, the employee’s new wage is determined according to his/her position in the new level.

5.4.  Performance Bonus:

Bonus payments are payments made for:

  • Increasing efficiency of the employees and ensuring performance continuity in achieving corporate targets,
  • Featuring individual performance and distinguishing successful employees, and
  • Awarding employees creating added value in the institution in this respect.

Bonus system includes the Board of Directors, Chief Executive Officer, Executive Vice Presidents, Head Office and Field employees. In determining the amount of bonus to be distributed, factors as credit risk, operational risk, legislation risk and reputation risk are taken into consideration along with the risk management concepts being applied. Besides, in all kinds of actions which provide obtaining the performance creating the basis of the bonus, requirement of protecting the benefits of the Bank and the customer are considered.    

Internal Audit, Internal Control, Compliance, Risk Management and Information Risk Management functions have separated bonus systems and their budgets are managed separately.

For “Special Employees” determined within the scope of the “Guide on Best Remuneration Practices at the Banks” published by the Banking Regulation and Supervision Agency, there is an Executive Aködül Bonus practice. Bonus amounts of staff lawyers of the Bank are paid within the scope of Law Performance Bonus System.

Bonuses shall be reduced at varying levels depending on the type of the disciplinary penalties imposed on current employees.

5.5.  Campaign Awards:

Awards granted to employees and/or teams relevant to campaigns organized for achieving a target which is specified and clearly defined and deserved on condition of fulfilling the criteria determined in advance within the scope of defined rules. 

In the distribution of campaign rewards, compliance with the principles of Clean Banking is observed. Necessary controls are carried out by the Internal Control Department.

5.6.  Other Awards:

Awards granted to contribute directly in motivation and efficiency of our Bank’s employees, increase satisfaction on work, to know, appreciate and encourage employees displaying high performance and empower commitment of employees to their occupation and the Bank.

5.7.  Fringe Benefits Practices:

It refers to benefits and payments which are either pecuniary or not. It is determined by considering job definition, position level, level of authority, budget and such criteria.


The “Remuneration Committee” conducts the process of following up, auditing and reporting Remuneration practices on behalf of the Board of Directors.   The Remuneration Committee also ensures that the remuneration policy is reviewed once a year, and revised if necessary.

The Board of Directors establishes necessary processes relevant to payments including cancelling performance-based payments for those determined that they endanger secure operation of the Bank as a result of their activities or responsible for damaging financial structure of the bank.

The Bank’s Remuneration Policy is applied in accordance with the arrangements of the Banking Regulation and Supervision Agency and Capital Markets Board.

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