COMMITTEES OF TÜRK EKONOMİ BANKASI A.Ş.
The Credit Committee extends loans in accordance with the rules of the Banking Regulation and Supervision Agency and within the powers and limits specified by the Board of Directors.
Chairman : Musa ERDEN
Vice Chairman : Varol CİVİL
Member : Yavuz CANEVİ
Purposes of Establishment:
- To centralize audit systems, validate procedures, monitor and audit risks in the eight risk categories below:
- Credit and counterparty risk: Default by third parties
- Market and liquidity risk: Market price fluctuations
- Administrative risk: Appropriate administration of operations (including operational risk)
- Legal risk: Conformity with tax law and other legislation
- Accounting risk: Conformity with regulations and legally acceptable presentation of accounts
- IT risk: Adequacy and security of systems
- Human resources risk: Adequacy of staff with regard to quality and functions
- Reputation and commercial risk: Damage to Group’s image
- Determining risk policies and principles for the appropriate conduct of risk management, internal audit system and compliance;
- Monitoring the Group’s adequacy and effectiveness in internal controls and risk management and auditing accounting and reporting systems
- Taking necessary measures to ensure that the Board of Directors is informed of any incident or condition that may prevent the Bank from functioning in an uninterrupted manner or of any event that violates laws and regulations; and making recommendations periodically through reporting to the Board of Directors any measures required to be taken.
The committee meets at least once every two months.
Chairman : Patrick René PITTON
Vice Chairman : Dr. Akın AKBAYGİL
Participation of Board Members and Committee Members in Meetings
According to Article 24 of the Articles of Association, in order for a meeting of the Board of Directors to be valid, at least seven (7) members must be present. Decisions shall be adopted by the affirmative votes of at least seven (7) members. The Board of Directors adopted 113 decisions, and the Audit Committee adopted 16 decisions in 2009. The participation of Board Members and Committee Members to meetings was at a satisfactory level.