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Suppliers

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THE PROCUREMENT FUNCTION IS AN ESSENTIAL TOOL FOR IMPROVING THE ENVIRONMENT THROUGH ENGAGEMENT WITH SUPPLIERS.

BANKIA HAS SPECIFIC RULES OF CONDUCT FOR THE PURCHASING FUNCTION, IN ADDITION TO ITS OWN CODE OF ETHICS AND CONDUCT, BASED ON THE RULES OF THE INTERNATIONAL FEDERATION OF PURCHASING AND SUPPLY MANAGEMENT (IFPSM).

These rules are founded on principles such as loyalty and honesty, objectivity in decisions, transparency and equality of opportunity, confidentiality, integrity and independence in relations and corporate social responsibility.

Bankia’s purchasing policy opts for diversification among local, national and international suppliers, so as to foster balanced wealth generation.

In 2017 the bank renewed its UNE 15896 certification for Value-Added Purchasing Management, the first supranational standard to encourage best business practices at the European level and to recognise excellence in the purchasing function.

To channel relations with suppliers and the procurement of products and services, Bankia has implemented a new tool called “Valora” for managing purchases online and assessing any proposals received.

SUPPLIER APPROVAL

Suppliers must be approved in order to establish a business relationship with Bankia and must obtain a minimum score in the approval process.

The assessment covers environmental, social and governance behaviour, so that the bank only works with suppliers that adhere to responsible management best practices.

Suppliers that demonstrate commitment to their employees, quality, the environment and human rights are valued more highly and the bank aims to avoid purchasing from companies that have a record of non-compliance with legal, tax, employment, environmental or social obligations.

The approval process also includes an examination of economic, social and environmental risk.

In 2017, Bankia had 859 approved suppliers and 712 active approved suppliers.

SUPPLIER CARE AND ACTIVE LISTENING

Suppliers may communicate with Bankia through various different channels:

  • The Confidential Whistleblowing Channel, managed by an independent body and open to suppliers, which helps to detect possible breaches of the bank’s Code of Ethics and Conduct.
  • The Supplier Service Department, which reports directly to the Chairman’s Office and deals with complaints, claims and suggestions relating to supplier selection, invoice payment and provision of services associated with supplier contracts.
  • Satisfaction surveys, implemented through the Supplier Perception Study, which assesses aspects such as staff friendliness, the negotiation process, flexibility in ordering, and fulfilment of payment obligations. In 2017, 85.7% of suppliers rated their satisfaction with their relationship with Bankia above 7 out of 10.

NEW SUPPLIER PORTAL

In 2017 Bankia introduced a technological solution designed to establish a new style of business relationship with its suppliers, ensuring transparency, impartiality and equal opportunity.

The new Supplier Portal simply and securely hosts online all the information Bankia needs for supplier approval and rating and also facilitates participation in the various negotiation processes.

DISTRIBUTION OF SUPPLIERS BY AUTONOMOUS COMMUNITY

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