Local ALCO Committee

Committee Officer: Metin Kılıç, Emel Armutlu

Type of Committee: Main committee

Subcommittee Type: Orientation / Coordination

Committee's Aim / Responsibilities: The main goal of the Garanti ALCO is to assist the Chief Executive Officer (CEO) in the ALM (including liquidity and funding, interest rates and exchange rates) and capital decision-making processes.

The Committee is structured around the following objectives:

  • To coordinate and review the implementation of policies for managing the sources and uses of funds that should provide an appropriate level of profitability consistent with planned growth within acceptable levels of risk,
  • To monitor and analyze the profitability and net interest income,
  • To allow senior management efficiently understand, develop and refine the ALM and capital policy assisting them in overseeing the management that Finance is carrying out,
  • To follow-up limits to control the balance sheet and capital risks, adjusting the exposure and risk profile to the one defined by the Garanti’s Board of Directors,
  • To assess the situation of financial markets and macro variables,
  • To monitor that individual business lines are aligned in terms of overall objectives and proactively controlled, with regard to the prudential risks under the ALM and capital function control,
  • To evaluate and assess the impact of changes in market and other variables in the ALM risk and capital profile,
  • To appraise the strategies presented by Finance and to revise the execution of previously approved actions,
  • To monitor regulatory capital adjusted profitability measures,
  • To challenge and regularly monitor medium-term capital and liquidity plans for base scenarios and adverse or severely adverse scenarios,
  • To analyze the extraordinary liquidity and funding situation that causes the committee to be called-in (if considered appropriate, Asset Liability Committee activates the Liquidity Contingency Plan. The Liquidity Contingency Plan activation will be informed to Corporate Asset Liability Committee),
  • To approve the Procedure for Hedge Accounting Transactions Process,
  • To approve Funds Transfer Pricing Methodology,
  • To approve Assumptions or Methodology or Structural Risk Measurement Techniques
  • To approve internal framework documents for ALM and Capital Management,
  • To monitor the policies, procedures, regulations and similar documents under its responsibility with respect to necessary updates, and taking action to keep them up-to-date.

Committee History: Established on October 2015.

Meeting Frequency: The Committee meets monthly (except August).

Number of Meetings (2023): 11 meetings were held. (January, February, March, April, May, June, July, September, October, November, December)

Number of Meetings (2024): 11 meetings were planned. (January, February, March, April, May, June, July, September, October, November, December)

Committee Members 

Committee Members

Committee Members' Titles

Committee Members' Roles

Recep Baştuğ

CEO / Board Member


Aydın Güler

Finance & Treasury EVP


Ceren Acer Kezik

Retail Banking EVP


Cemal Onaran

Commercial Banking EVP


Sibel Kaya

SME Banking EVP


Mahmut Akten

Corporate, Investment Banking & Global Markets EVP


Murat Atay

Chief Credit Risk Officer


Metin Kılıç

Assets and Liabilities Director

Member / Secretary

Seda Güler Mert

Chief Economist - Turkey

Participant Member

Özlem Ernart

Head of Risk Management

Participant Member

Sıdıka Dizdar

Market and Sturctural Risk Director*

Participant Member

Emilio Caminero

Global Structural Risk Head of Department-BBVA*

Participant Member

Gloria Couceiro Justo

Perf. Mgmt., Capital & Adv. Analytics Discipline-BBVA*

Participant Member

Antonio Borraz

Global ALM and Treasury Head of Department-BBVA*

Participant Member

Carlos Goicoechea Argul

Turkey ALM and Treasury Head of Department-BBVA*

Participant Member

Angeles Pelaez

Group Financial Account Head of Department-BBVA*

Participant Member

(*) Other committee participants. They are not standing committee members.