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  2. Responsible purchasing

Responsible purchasing

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THE SENSE OF RESPONSIBILITY AND COMMITMENT TO THE COMMUNITY EXTENDS TO THE PROCUREMENT FUNCTION AND RELATIONS WITH SUPPLIERS.

Bankia has a Purchasing Policy, approved by the Board of Directors, which is informed by and founded on the values of professionalism, integrity, commitment, closeness and achievement orientation.

Bankia’s global procurement model is designed to assess and control any risks that may arise from our supply chain and is based on the Responsible Purchasing principles.

The procurement policy and the Responsible Purchasing Principles apply to all Bankia Group companies and employees, especially those involved in the procurement of goods and services.

In addition to its general Code of Ethics and Conduct, Bankia also has specific rules of conduct for the purchasing function, based on the rules of the International Federation of Purchasing and Supply Management. 

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 with suppliers, and corporate social responsibility.

To detect possible infringements of the bank’s Code of Ethics and Conduct, Bankia offers its suppliers a Confidential Whistleblowing Channel, which is managed by an independent third party.

Bankia has a Purchasing Policy, approved by the Board of Directors, which is informed by and founded on the values of professionalism, integrity, commitment, closeness and achievement orientation.

Bankia’s global procurement model is designed to assess and control any risks that may arise from our supply chain and is based on the Responsible Purchasing principles.

The procurement policy and the Responsible Purchasing Principles apply to all Bankia Group companies and employees, especially those involved in the procurement of goods and services.

In addition to its general Code of Ethics and Conduct, Bankia also has specific rules of conduct for the purchasing function, based on the rules of the International Federation of Purchasing and Supply Management. 

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 with suppliers, and corporate social responsibility.

To detect possible infringements of the bank’s Code of Ethics and Conduct, Bankia offers its suppliers a Confidential Whistleblowing Channel, which is managed by an independent third party.

SUPPLIER SELECTION

Transparency in supplier selection is implemented through a system of authorities and delegated responsibilities, so that decisions are escalated where appropriate and are communicated to all the levels involved.

In its purchasing policy Bankia also encourages diversification among local, national and international suppliers, so as to foster balanced wealth generation.

DISTRIBUTION OF SUPPLIERS BY AUTONOMOUS COMMUNITY

APPROVAL AND RATING

In this process all the suppliers are analysed and a decision is made as to which of them do not meet any requirement of exceptionality, such as suppliers included in the Forbes 2000 ranking that offer certified quality and guarantees, or suppliers that are only used occasionally and for non-material amounts.

The assessment includes ethical, social and environmental performance, so that priority can be given to suppliers that meet high standards in this respect.

Suppliers must be approved before entering into a business relationship with Bankia

Suppliers are also required to be compliant with applicable laws and regulations in the jurisdictions in which the bank operates and consideration is given to alignment with the principles of the Global Compact, the Universal Declaration of Human Rights and the fundamental conventions of the International Labour Organization. Suppliers that demonstrate commitment to their employees, quality, the environment and human rights are scored more highly in the approval process and the bank avoids 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 and suppliers are required to have the appropriate economic risk rating and to provide certain mandatory information.

In 2018, within this framework of principles and obligations, Bankia reinforced the functionality of its Supplier Portal, which allows the bank to conduct relations with suppliers on a more open footing, with an emphasis on transparency, impartiality and equality of opportunity. Through the new Supplier Portal suppliers are able to easily and securely upload all the information Bankia requires for supplier approval and rating and participate in the various negotiation processes.

BEST PRACTICES

In 2018 the bank renewed its UNE 15896 certification for Purchasing Management, the first supranational standard promoting best business practices at the European level and certifying excellence in purchasing.

Bankia was the first financial institution to obtain this certification, which sets a standard for continuous improvement, minimises risks and ensures that sustainability is taken into account in procurement management.

In 2018 Bankia also held the third annual Suppliers Day, which was attended by 300 suppliers, who shared business strategies, discussed the supplier relationship and reflected on the outlook for the economy. Bankia uses initiatives such as this to convey its commitment to its suppliers, aiming to build a relationship based on communication and involve the value chain in its plans for the future.

Bankia also sponsors and collaborates with the Spanish Association of Purchasing, Procurement and Supply Professionals (Aerce), whose aim is to transmit, publish and spread knowledge and conduct research in the field of purchasing.


300
BANKIA SUPPLIERS ATTENDED THE SUPPLIERS DAY

THE PRIORITY OF SUPPLIER CARE

Bankia devotes considerable effort to its relationships with suppliers, who may contact the Supplier Service Department (SSD) to lodge complaints, claims or suggestions about invoice payment, the services provided under their contracts or the selection process.

All complaints received by the SSD are handled directly by the Chairman’s Office staff.


88,30%SUPPLIERS WITH A SCORE OF MORE THAN 7 IN THE SATISFACTION SURVEY

The bank also proactively canvasses the opinion of its suppliers regarding their relationship with the organisation. Satisfaction surveys, the results of which are distilled in the Supplier Perception Study, collect suppliers’ opinions (both suppliers that were selected and those that were not) on aspects such as friendly treatment, the negotiating process, flexibility in procurement and compliance with payment obligations. The surveys also help the bank measure the extent to which Bankia’s values are being effectively transmitted.

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