PERFORMANCE BONUSES AND SALES PREMIUMS

Annual bonus pool is set on the basis of the profitability of the Bank, the results generated by the activity and achievements and also the (local and/or professional) sector practices. Payment of bonuses will only be considered if the Bank achieves 80% of the budgeted net profit at the end of the financial year.

Only the employees who are in the scope of Success and Sales Incentive system are entitled to get a remuneration for their target realizations.

TL 96.4 million in total has been set aside in the Bank’s 2016 financial statements as provision for performance bonuses and sales premiums. Slated for payment in 2017, the amount splits as TL 81.5 million to be paid depending on the performances of the employees during the year and TL 14.9 million as sales premium in line with the sales realized by sales staff in 2016. In addition, the deferred bonus amount, i.e. the bonus paid to employees in a later period than the period it is earned, is TL 10 million.