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Responsible commitment

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THE RESPONSIBLE MANAGEMENT POLICY HELPS ORIENT THE BUSINESS, PREVENT RISKS AND LAY THE FOUNDATIONS FOR STAKEHOLDER DIALOGUE.

RESPONSIBILITY, SUPERVISION AND ASSESSMENT

Responsible Management at Bankia is overseen by the Board of Directors, although since 2015 oversight authority has been delegated to the Appointments and Responsible Management Committee.

Made up of three independent directors, the Appointments and Responsible Management Committee’s functions include reviewing and evaluating the Bank’s corporate social responsibility policy and practices and overseeing relations with the different stakeholder groups.

Initiatives and projects in this area are put forward by the Responsible Management Committee, which includes executives from the units that have direct contact with stakeholders. Ordinary meetings of the committee are held every quarter.

The Responsible Management Committee is chaired by the Deputy General Directorate of Communication and External Relations, while the role of secretary is taken by the Corporate Social Responsibility Directorate, which analyses trends, makes proposals, and coordinates and drives responsible management at Bankia.

During 2018, the committee addressed issues including the new Responsible Management Plan, climate change, reputational risk, relations with analysts and investors, analysis of new regulations and trends, SRI policies, new products with a social and environmental focus, approval of social agreements and investment, and workforce training in responsible management, as well as the approval of the new 2019-2020 Responsible Management Plan.

RESPONSIBLE MANAGEMENT GOVERNANCE STRUCTURE

ACTIVE LISTENING IN ORDER TO IMPROVE

To adapt the Bank’s activity to the expectations of the environment it operates in, Bankia performs regular analyses of the most relevant aspects and those that have most impact on its relationships with stakeholders. A team of external consultants en-sures the reliability of the methodology used and the accuracy of the results.

At the end of 2017, through active listening to its stakeholders, both internal and external, Bankia conducted a materiality analysis to identify the aspects that are most important for the bank’s Responsible Management.

This analysis of material issues for Bankia and its stakeholders served as input for the new 2019-2020 Responsible Management Plan, which was approved at the beginning of 2019.

The issues the external and internal stakeholders (i.e. shareholders and investors, cus-tomers, suppliers and society as a whole vs. employees) considered most important were those relating to economic strength, how business relationships are established and honesty in the conduct of the bank’s employees, as well as keeping pace with technology.

The external perspective has helped understand how each of these issues influences stakeholders’ decisions and their opinion of Bankia.

The internal perspective reflects the importance of stakeholder trust for the business, or in other words, how each issue affects the ability to create value for the bank.

The reputational risk variable was included in the materiality analysis so as to gauge stakeholders’ tolerance, trust and attitudes in the event that the bank’s performance in some respect fails to meet their expectations and so be able to anticipate such inci-dents.

Materiality Matrix

(1) The risk level represented is explained by the stakeholders reaction or attitude towards Bankia if the bank disappoints their expectations on each issue.

RESPONSIBLE MANAGEMENT POLICY

The general, group-wide frame of reference for Bankia in matters of corporate social responsibility is the Responsible Management Policy, which helps to guide the busi-ness, manage risks, identify and exploit opportunities and lay the foundations for stakeholder dialogue, so as to align the Bank’s activity with the common goal of ensur-ing Bankia’s sustainability. The principles of this policy are:

  1. Value creation: putting the how before the what.
  2. Transparency and good governance: saying what is done and what we do.
  3. Ethics and integrity: Ethics and integrity: doing what we say.
  4. Respect for human rights.
  5. Active listening and dialogue: satisfaction orientation.
  6. Clarity, simplicity and understanding: identification with the customer.
  7. Recognition and respect: basis of the relationship with the bank’s professionals.
  8. Responsible hiring: shared growth.
  9. Climate change: global demand.
  10. Social commitment: local development and community closeness.

The Responsible Management Policy is approved by the Board of Directors and is reviewed periodically to ensure that it remains aligned with the corporate values and the bank’s strategy, as well as with the expectations, requests and demands of our stakeholders.

The Appointments and Responsible Management Committee is responsible for ensuring effective implementation of the strategy and commitments set out in this policy and for assessing compliance.

CHANNELS OF DIALOGUE

The channels of dialogue the bank uses to give account of its daily activity also allow stakeholders to participate in preparing this report and in identifying priority issues.

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