The Bonus PolicyAccording to the Bonus Policy of the Bank, the employees are remunerated on the monthly and annual bases. The monthly bonuses apply to those employees who are related to the sales and bad loan management (such as credit specialists, bad loan management specialists, operatives, marketing specialists and so forth), while the monthly sales outcomes are taken as the criteria to calculate the bonuses.
The annual bonuses apply to the positions the performance of which is based on the long-term operation and performance of the Bank and are aimed at achieving the strategic goals. The employees in receipt of the annual bonuses are classified in accordance with the categories given below:
· The managers and employees of the structural divisions – based on their profit-derivation oriented, risk-based performance;
· the managers and employees of the risk managing and controlling structural divisions – based on the efficiency of their management and control;
· the members of the Board as well as the managers and employees of the structural divisions unrelated to any of the above categories – based on the general performance of the bank.
The employee annual performance evaluation is taken as the criterion that underlies the calculation of the annual bonus.