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Governing bodies

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THE COMPOSITION OF BANKIA’S GOVERNING BODIES REMAINED VIRTUALLY UNCHANGED IN 2017.

BANKIA HAS A CONSOLIDATED GOVERNANCE STRUCTURE THAT OPERATES EFFECTIVELY WITHIN THE FRAMEWORK OF THE PRINCIPLES OF GOOD CORPORATE GOVERNANCE.

Its governing bodies are:

THE GENERAL MEETING OF SHAREHOLDERS

The General Meeting is the highest decision-making body in matters reserved to it, such as the appointment of directors, the approval of the annual accounts, the distribution of dividends and the approval of directors’ remuneration policy.

THE BOARD OF DIRECTORS

The Board of Directors represents the company and has the broadest powers, except in matters reserved to the General Meeting of Shareholders. Among other things, the Board approves the strategic or business plan and the annual management objectives and budget and decides general policies and strategies, as well as the corporate governance and responsible management policies.

The Board of Directors, which has seven independent and three executive directors, held 28 meetings in 2017. One of its functions is to supervise the work of its committees and delegate bodies:

  • Audit and Compliance Committee (made up of four independent non-executive directors, 20 meetings).
  • Appointments and Responsible Management Committee (tthree independent non-executive directors, 17 meetings).
  • Remuneration Committee (four independent non-executives, 12 meetings).
  • Risk Advisory Committee (three independents, 36 meetings).
  • Board Risk Committee (three independents, one executive, 36 meetings).
  • Bankia-BMN Merger Monitoring and Oversight Committee, dissolved in January 2018 on completion of the merger process (four independents, 12 meetings).

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