Yapi ve Kredi Bankasi, a Turkish bank, is reportedly allowing a part of its workforce to work from home on a permanent basis, in the face of the Covid-19 pandemic.

According to a report by Bloomberg, the move offers the bank more flexibility and can help it cut down its office costs.

The bank will enable remote working for more than one-third of its employees at its Istanbul base. Under the plan, the bank will split its staff into three groups, as part of ‘plain working’, the report said.

Yapi Kredi has an employee headcount of nearly 5,500 in the financial district of Levent in Istanbul.

Under the plan, only 28% of the staff will work at the headquarters, complying with banking requirements while about 36% are expected to work from home.

The remaining nearly 36% of the workforce has been assigned a hybrid model, to work both from the office and home, Bloomberg reported.

Last March, nearly 8,000 of Yapi Kredi’s employees worked from home with little disruption, which led to the decision to adopt the flexible working arrangement, noted the report.

The bank aims to gradually transition to the new model and aims to fully implement it later this year.

The new working model is expected to free up 10% of the bank’s office space, improving the space available for each employee by 30%.

Across Turkey, the bank has 835 branches and a workforce of over 16,000.

Recently, the bank tapped analytics software firm FICO for asset governance and regulatory compliance.