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  1. Active listening

Active listening

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In 2017 Bankia carried out a materiality analysis to identify the main issues for the bank’s responsible management through active listening to internal and external stakeholders.

First, a number of issues with significant economic, environmental and social impact were identified. Based on the issues identified, Bankia engaged in a wideranging consultation with its stakeholders, which allowed it to prioritise the issues.

The external point of view indicates the influence each issue has on stakeholders’ decisions and opinions in relation to Bankia. The internal point of view, on the other hand, reflects the importance each issue has for the business, in terms of the achievement of objectives and the strengthening of stakeholders’ trust; in other words, the effect each issue has on the organisation’s ability to create value for itself.

The inclusion of the risk variable, which serves to gauge the level of tolerance and trust and the attitudes stakeholders would have if events were to occur that disappointed their expectations, so as to be able to improve the bank’s management before any such events can occur.

Based on the results of the materiality analysis, the issues that both the external stakeholders (shareholders and investors, customers, suppliers and society as a whole) and the internal stakeholders (employees) consider most important are those that have to do with generating economic strength, the manner in which business relations are established, and honest behaviour by the bank’s people, as well as issues relating to the business’s proper technological development. Issues of corporate governance, responsible marketing, solvency, ethics, and innovation and multichannel marketing have been found to be especially relevant.

Active Listening
Ranking of material issues

Based on importance for bankia and for stakeholders:

  • Responsible marketing
  • Corporate governance
  • Solvency
  • Ethics
  • Contribution to society
  • Talent management
  • Transparency
  • Innovation and multichannel marketing
  • Data security
  • Funding structure
  • Products that have a positive impact
  • Asset quality management
  • Environmental management
  • Accessibility and financial inclusion
  • Management of risks in the environment
  • Management of indirect environmental
  • And social impacts
  • Responsible purchasing

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