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Policy on the financing of controversial activities

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BANKIA FOLLOWS INTERNATIONAL BEST PRACTICES TO AVOID, AS FAR AS POSSIBLE, THE FINANCING OF CONTROVERSIAL ACTIVITIES.

ONE OF BANKIA’S FUNDAMENTAL GOALS IS TO PROMOTE GOOD BANKING PRACTICES.  

For that purpose, specific policies have been established for industries and activities that are potentially sensitive. Examples include investments or financing related to certain weapons companies or organisations implicated in the violation of human rights.

As regards the arms industry, the bank’s policy requires that transactions linked to controversial weapons (antipersonnel mines, scatter ammunition and biological or chemical weapons) be rejected. The financing of projects for countries at war or subject to a UN embargo is also prohibited.

Bankia’s commitment also obliges it to refuse to finance transactions with companies that have been proven to violate human rights in areas such as employment conditions, freedom of association, safety at work and equality. Isolated events are not sufficient proof of failure to respect fundamental rights.

Similar investment and financing restrictions are adopted in the case of illegal activities such as money laundering, terrorism, tax evasion, fraud and corruption.

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