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Corporate integrity

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THE CODE OF ETHICS AND CONDUCT SETS OUT THE CORPORATE INTEGRITY PRINCIPLES AND PREVENTS INAPPROPRIATE BEHAVIOUR.

BANKIA HAS A CODE OF ETHICS AND CONDUCT THAT ALL EMPLOYEES MUST KNOW AND COMPLY WITH IN ALL THE GROUP’S ACTIVITIES AND BUSINESSES.

It regulates permitted and prohibited conduct both internally and in relations with external stakeholders.

The code is proof of the importance of the bank’s principles and values (commitment, integrity, professionalism, proximity and achievement orientation), which are implemented on various levels:

  • Corporate ethics. The code establishes the values that should be adhered to in the group’s relations with its professionals, customers, suppliers and society at large. In particular, it prevents institutional conflicts of interest by establishing barriers to stop the bank’s information from being used abusively or unlawfully.
  • Ethics and integrity in the markets. Policies are in place to prevent market manipulation and the use of inside information, as well as to foster free market competition and transparency. The code also establishes control mechanisms to prevent the commission of crimes of corruption.
  • Personal ethics. The acceptance of any kind of gift, income or commission in return for transactions carried out by Bankia is expressly prohibited.

Bankia’s Ethics and Conduct Committee is responsible for overseeing compliance with the code and for promoting ethical conduct within the bank. To that end it carries out cross-organisational actions to raise employee awareness of the need to prevent situations that could lead to infringements. In 2017, the committee held 12 meetings.

 

CONFIDENTIAL WHISTLEBLOWING CHANNEL

One of the tools supporting the bank’s ethical principles is the Confidential Whistleblowing Channel, which facilitates internal detection and reporting of bad practices. Any breach of the Code of Ethics and Conduct can be reported through a specific digital platform or by email.

To protect its independence, the channel is managed externally by a specialised company (currently PwC), under the oversight of the Ethics and Conduct Committee, which is responsible for ensuring that all reports received are assessed independently. The reporting procedure is completely confidential and preserves the anonymity of the whistleblower, except for the persons directly involved in responding to the report and checking the facts.

During 2017 seven reports were received through the channel, one more than in 2016 but four less than in 2015.

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