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BankiaCorporate Integrity

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Code of Ethics and Conduct

The Bankia Group has a Code of Ethics and Conduct, approved by the Board of Directors on 28 August 2013, which contains rules and criteria for professional conduct that are compulsory and apply to all company employees and directors, and cover all of the Bankia Group's activities and business.

The aim of the Code of Ethics and Conduct is:

  1. To regulate the conduct that is permitted and prohibited by the bank.
  2. To establish the ethical principles and general standards used to guide the conduct of the Group and the persons included within the scope of application, among themselves as well as in their relations with customers, partners, suppliers and, in general, with all persons and entities, public or private, with whom the group interacts directly or indirectly.
  3. To demand ethical standards of behaviour and corporate integrity as an essential requirement for obtaining and maintaining trust and respect in institutions, and making it compulsory for all persons with any kind of professional relationship with the Bankia Group to comply with such standards.

The most relevant matters regulated by the Bankia Code of Ethics are:

  • The Bankia Group's ethical values & principles: Commitment, integrity, professionalism, maintaining a connection and focusing on achievement.
  • Corporate Ethics. The Code establishes the values that must be followed in the relationships maintained by the Bankia Group with its employees, customers, suppliers, and wider society as a whole. In particular, the Bankia Group prevents institutional conflicts of interest through barriers that are set up so that non-public information on its investment decisions and other activities, obtained as a result of relationships with customers or suppliers, or from privileged institutional relationships, may not be used in an abusive or illicit manner.
  • Market ethics and integrity. In order to realise this ethical commitment, a series of policies, procedures and controls have been designed and implemented, ensuring compliance with international standards in relevant areas. In particular, policies have been adopted that avoid the manipulation of markets and the use of inside information, and encourage free competition and transparency in information provided to the market.
  • Personal ethics. The following are expressly prohibited: (a) accepting any kind of gift, present, income or commission arising from operations carried out by the Bankia Group, and (b) influencing matters in which potential or actual conflicts of interest may arise.

More information: Code of Ethics and Conduct

Confidential Whistleblowing Channel

Confidential whistleblowing channel put in place for employees and suppliers, supervised by the Ethics and Conduct Committee, which will monitor compliance with the Code. This channel is being managed by a specialised firm outside the Group.

A confidential whistleblowing channel has been set up, managed by an outside firm. This communication tool is available to all Bankia employees and suppliers who wish to report conduct that breaches the Code of Ethics and Conduct, as well as to make suggestions and ask questions.

Reports of misconduct may be submitted in two ways:

  1. By accessing the online platform Confidential whistleblowing channel Opens in new window
  2. By sending an e-mail to canal.denuncias.bankia@es.pwc.com

This channel is only for employees and suppliers. Customers who wish to submit suggestions, reports or complaints may do so via Customer service Opens in new window.

Type of communications received

2013 2014
Market abuse - - - -
Workplace harassment - - - 1
Irregular actions related to suppliers - - 1 -
Misappropriation or diversion of funds - 1 - 1
Accounting and auditing issues - - - 1
Confidentiality or use of inside information - - - -
Conflicts of interest - - 1 -
Enquiry/Suggestion - - 1 2
Counterfeiting of agreements, reports or records - - - -
Offences related to transactions with securities or shares - - - -
Environmental protection - - - -
Data security - - - -
Physical security - - - -
Bribery or corruption - - - -
Breach of employees’ rights - 1 - -
Others - 2 - 4
Total claims filed 0 4 3 9

Ethics and Conduct Committee

  • This committee is tasked with ensuring that the whistleblowing channel works properly and prepares periodic reports on its functioning for the Audit and Compliance Committee
  • It guarantees confidentiality regarding:
    • the identity of the whistleblower.
    • the investigation and its content, informing only those persons who are strictly necessary in the investigation and resolution.
  • It ensures that there are no reprisals against employees who report presumed misconduct in good faith

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