Cost Management and Efficiency Committee

Cost Management and Efficiency Committee

Committee Officer: Yazgı Demiralp/ Sertaç Kanat

Type of Committee: Main Committees

Subcommittee Type: Orientation / Coordination

Committee's Aim / Responsibilities: The Cost Management and Efficiency Committee, following the Expense and Investment Management internal regulation is the forum responsible for the comprehensive management of the Group’s Efficiency, led by the Financial area and representatives of the main expense lines.

The Committee is also responsible for:

• Proposals authorization for BAU spending, adjustments of budget ceilings and exceedance following the criteria defined in the Expense and Investment Management Internal regulation.
• Forum for Cost Managers to report on the evolution of the consolidated expenses propose initiatives for expenses optimization.
• This forum may define or submit efficiency measures to higher authorities and block or reallocate budget surpluses depending on efficiency performance.

Committee History: Established on January 2016.

Meeting Frequency: The committee will meet twice a year, although extraordinary sessions may be held when needed. 

Exceptionally, the committee may also be convened virtually to sanction proposals by e-mail.

Number of Meetings (2023): 2 meetings were held. (February, December)

Number of Meetings (2024): 2 meetings are planned. (May, December)

Committee Members