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Mifid II

Bankia has 9,200 certified employees who are qualified to offer customers financial advice

In terms of retail branches, 70% of Bankia employees are already certified, and the figure is even higher at business banking offices with 83%.

Communication Bankia

By  Communication Bankia

Publish on 
28 August 2018 - 11:15

  • Seventy per cent of staff in retail branches and 83% of staff in business banking offices are already certified
  • Seventy-seven per cent of Bankia employees who took the examination at the last sitting were successful
  • As well as certifying staff to provide financial advice, the programme ensures that customers benefit from the highest levels of transparency, protection and service quality
  • A new round of training will start after the summer with around 3,250 uncertified staff. They will complete this in April 2019

Bankia already has more than 9,200 certified employees offering customers financial advice at its branches, in compliance with the new Mifid II regulation.

In terms of retail branches, 70% of Bankia employees are already certified, and the figure is even higher at business banking offices with 83%.

Bankia’s most recent round of courses provided to comply with Mifid II rules started in January, and the examinations took place in July. Seventy-seven per cent of Bankia employees who took the examination at the last sitting were successful.

Bank staff holding this certification have completed a period of intensive training with a high degree of involvement, commitment and responsibility.

As well as certifying them to offer financial advice, the programme is a way of guaranteeing that Bankia customers receive the highest levels of transparency, protection and service quality.

Training will continue when summer ends, when around 3,250 uncertified staff will start the course, which they will complete in April 2019.

Bankia is collaborating with the Financial Studies Foundation (Fundación de Estudios Financieros) to provide its workers with this training. Employees passing the examination obtain dual certification: professional certification as an Expert in Financial Advice, issued by the Spanish Institute of Financial Analysts (Instituto Español de Analistas Financieros (IEAF)), and the university qualification in Banking and Financial Advice Specialist, issued by the University College of Financial Studies (Colegio Universitario de Estudios Financieros (Cunef)).

Mifid II, a new type of customer relations

Mifid II, which replaces Mifid that has been operating since 2007, is a new European Union Directive whose main purpose is to ensure greater transparency and protection for customers and stricter regulation of financial markets.

As far as Bankia is concerned, Mifid II’s new requirements are not a drawback, rather an excellent opportunity to establish a new relationship with its customers.

Because of this, the bank is moving to provide its customers with personalised information and, for example, individuals are only able to buy into investment funds after receiving advice and taking a convenience and suitability test so that the customer is correctly profiled and his or her risk profile is known.

 

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Learn to manage expenses with a family budget

Bankia launches Bankademia, an educational multiplatform that seeks to promote financial education through training and consultation

The initiative, aimed at all audiences, will address issues related to finance, housing, savings and investment, aid and subsidies, taxes, among other financial matters.
 

Communication Bankia

By  Communication Bankia

Publish on 
31 January 2019 - 11:00

  • Under the concept ‘to take away’, Bankademia is designed so that the training is consumed at any time and in a short space of time
  • The tool has benefitted from the participation of experts and influencers who are responsible for easily explaining the most important aspects of finance
  • The tool is available at https://www.bankia.es/en/Bankademia and with its own social networks on Facebook, Instagram, Twitter, Ivoox and YouTube

Bankia launches Bankademia, an educational multiplatform that seeks to promote financial education through training courses and consultation. Under the concept ‘to take away’, the tool is designed to be consumed in no more than three minutes and in any place.

The initiative is aimed at all audiences that have contact with financial and economic realities; since it has useful content that focuses on answering questions about savings, loans, investments, rentals and budgets. In addition, some of the courses have been proposed for population segments related to vulnerable groups, the agricultural world or young people.

Bankademia is based around ten courses with themes covering finance, housing, savings and investment, aid and subsidies, taxes, employment, family economy, SMEs and the agricultural sector.

Each course, launched on a monthly basis, will consist of six teaching units and will present the information in different formats (two-minute video, podcast and through tools related to the subject of the course and additional information) facilitating consultation and consumption.

Bankademia, adhered to the Funcas programme for Financial Education Stimulus, will have the collaboration of experts and influencers who will be responsible for making the most important aspects of finances easy through Masterclasses to be held once a month. The first speaker will be Risto Mejide, who will talk about the importance of investing in oneself.

The tool is available at https://www.bankia.es/en/Bankademia and with its own social networks on Facebook, Instagram, Twitter and YouTube.

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As part as the new flowchart of the bank

Bankia announces its new flowchart for the North Regional Division

Begoña Hernández joined the group in 2000 and has held various positions of responsibility as Commercial Director of North Madrid Regional and Commercial Director of Castilla-La Mancha, Andalucía and Extremadura.

Communication Bankia

By  Communication Bankia

Publish on 
25 January 2019 - 13:30

  • Begoña Hernández will be in charge of the private individuals business of the North Regional Division, replacing Julio Martín who becomes the corporate director of the Southwest Madrid Regional División
  • The North Regional Division, based in Logroño, includes La Rioja, País Vasco, Aragón, Navarra, Galicia, Principado de Asturias and Cantabria

Bankia has appointed Begoña Hernández as corporate director of the North Regional Division after her position as commercial director of the North Madrid Regional Division. Hernández replaces Julio Martín, who will be in charge of the Southwest Madrid Regional Division.

The North Regional Division, based in Logroño, includes the private individuals business from La Rioja, País Vasco, Aragón, Navarra, Galicia, Principado de Asturias and Cantabria.

Regarding the private individuals business, the Commercial Director of the North Regional Division is now María Dolores Ramos and Belén Martín becomes the corporate director of North Company Business, which includes La Rioja, Castilla y León, Galicia, Asturias, Cantabria, País Vasco and Navarra.

Begoña Hernández, born in Ávila, joined the group in 2000 and, since then, has held various positions of responsibility in the bank, as Commercial Director of North Madrid Regional and Commercial Director of Castilla-La Mancha, Andalucía and Extremadura.

In addition, the new corporate director of the North Regional Division was the Commercial Director of the Fund and Pension Plans Manager and director of Capital Markets for network production distribution.

Hernández holds a degree in Economics from the Autonomous University of Madrid and a master's degree in Financial Markets from the San Pablo CEU University of Madrid.

The executive also took a General Management Program course at IESE and a master's degree in coaching at the University of Deusto.

The appointment of Hernández takes place as part of the reorganization of the flowchart announced today by Bankia to support the transformation of the bank which brings the number of members of its Management Committee to twelve.

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In the first year of existence of this type of transfers

Bankia, leader in instant transfers

Since last February, the month that brought instant transfers to Spain, Bankia carried out 6.6 million transfers for a total amount of 6,500 million euros

Communication Bankia

By  Communication Bankia

Publish on 
15 January 2019 - 00:00

  • The entity has also led this business by number of operations, with 28% of the transfers carried out in Spain.
  • Since last February, the month that brought instant transfers to Spain, Bankia carried out 6.6 million transfers for a total amount of 6,500 million euros.
  • Instant transfers send the funds immediately: in less than 20 seconds, the payee can use the transferred amount.
  • One of the keys to its leading position is that "Bankia is the only bank that offers massive instant transfers, such as payrolls, to companies" said Mauro Fernández Revenga, director of Business Products and Services.
  • Instant transfers are free for members of the 'Por ser tú' program, with 4.3 million customers.

Bankia has led the business of immediate transfers in 2018, the first year in which these operations have been available in Spain, reaching a 39% share of the total amount.

The entity has also led this business by number of operations, with 28% of the transfers carried out in Spain.

Since February 2018, when the instant transfer system became available in Spain, the system had transferred 16,800 million euros by the end of the year in more than 23.2 million transfers, according to Iberpay data regarding operations carried out through the ASI4 service. Of these, Bankia carried out 6.6 million transfers for a combined amount of 6,500 million euros.

Immediate transfers, which became available in Spain last February, are a new type of transfer whose main characteristic is that the funds are transferred immediately. The process lasts less than 20 seconds. That is, the amount is available to the payee after this time lapse.

In Bankia, immediate transfers can be made from offices or through remote platforms (Bankia On Line, Bankia app for smartphones and tablets, ATMs, etc.) which are operational 24 hours a day, seven days a week.

This new transfer mode is available for both individuals and companies and can be used for transfers of up to 15,000 euros.

Immediate transfers for companies

"Bankia is the only Spanish bank that offers companies the possibility of making massive transfers, such as payroll transfers, instantaneously," said Mauro Fernández Revenga, director of Products and Business Services, that "has been key when it comes to increasing the volume and the number of operations".

Last September, Bankia implemented a number of innovative measures "that place the entity at the forefront of payment management for companies", underlined Fernández Revenga. "This allows us to process massive instant payment files automatically and without the need for the client to make specific requests", he added.

Regarding individuals, these operations are free for all members of the 'Por ser tú' program, with 4.3 million customers. This includes all customers with payroll accounts.

Instant transfers coexist with ordinary transfers, which have a maximum payment tern of D + 1 (one business day after the order) and have no limit in transfer amount.

Bankia has launched the 'Payment Optimizer' for businesses, which means that the bank will process all transfer orders, including payroll transfers, in the most efficient manner possible. To do this, Bankia will issue these orders as immediate transfers whenever possible, but when it is not (for example, because the amount exceeds the maximum amount allowed by this transfer mode) they will be processed as same day value payments and, as a last resort, as regular transfers.

On the other hand, private customers can choose the transfer that best suits their needs, instant or regular.

The area in which the new type of transfers is available is the SEPA (Single European Payments Area), made up of European Union countries, Iceland, Liechtenstein, Monaco, Norway, San Marino and Switzerland.

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Business Governance, Strategy and Competitiveness Observatory

Only 31% of Valencian family businesses have a board of directors, compared to 44% of non-family businesses

The companies of the Comunitat Valenciana rely to a lesser extent on the use of this governing body in comparison to the national data analyzed in this new report.

Communication Bankia

By  Communication Bankia

Publish on 
12 February 2019 - 13:00

  • The GECE Observatory, promoted by Bankia and Ivie, issues the 'Keys of competitiveness' document analysing the differences in the governing bodies used by the companies of the Valencian Community
  • At the national level, 36.6% of family businesses and 53.8% of non-family businesses have a board of directors, both higher than the values in Valencia
  • Among the most competitive Valencian companies, the amount of businesses with a board is 38.1% in the case of family businesses and 51.1% if, in addition, they are medium or large companies.

The report of the GECE Observatory (spanish version), promoted by Bankia and Ivie, reveals that only 31% of Valencian family businesses have a board of directors while 44% of non-family businesses have one. In general, companies in the Valencian Community rely less on this type of governing body since, at the national level, 36.6% of family businesses and 53.8% of non-family businesses make use of one.

The Business Governance, Strategy and Competitiveness Observatory, a Bankia initiative in collaboration with the Valencian Institute of Economic Research (Ivie), has issued the second 'Keys to competitiveness' document, analysing the differences between the management models of Valencian and non-Valencian family businesses. These documents are the result of a deep dive into the determinants of competitiveness for Spanish companies, the main objective of the GECE Observatory.

According to the data obtained by the Observatory, "the predominance of sole administrators in Valencian family businesses shows a scenario in which different outlooks and accountability to third parties from management bodies is not widespread”.

However, the interest in a more open governance model, using a board of directors, increases in the case of the most competitive family businesses.

Specifically, 38% of Valencian family businesses in the ’Superior’ group regarding competitiveness, according to the classification created by the Observatory, have a board of directors. In the ‘Fragile’ group, only 23.6% have a board of directors.

The percentage of companies with a board of directors is higher among the most competitive medium and large companies and is closer to the national average. Around 51% of the most competitive medium and large family businesses have boards of directors, both in the Valencian Community and in Spain as a whole.

Management Teams

In addition to the positive correlation between competitiveness and a governance model that includes a board of directors, this decision-making body can contribute to facilitate other professional management structures in companies. In fact, 58.7% of family businesses that have boards of directors also have formal management teams, compared to 24% of the companies managed by a sole administrator.

Family businesses with a board of directors are also more inclined to create structures that facilitate the relationship between family that owns the company and the company itself. This is the case of family boards, present in 15% of family companies with a board of directors and only 7.6% of companies managed by a sole administrator.

In short, according to Key 2 of the GECE Observatory, "boards of directors are corporate governance structures that give rise to a wider variety of perspectives in strategic decision-making, encourage accountability to third parties and act as promoters and mediators in the creation of other structures to improve the management of the relationship between the owners and the family business".

A more detailed analysis can be found in Report 2 Ownership structure and governance systems of Valencian businesses: characterisation and link to competitiveness of the GECE Observatory.

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CONTACT

External Communication Direction

Virginia Zafra de Llera
DIRECTOR OF EXTERNAL COMMUNICATION
vzafra@bankia.com

 

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Guillermo Fernández Martín
DIRECTOR OF PRESS RELATIONSHIP
gfernandezm@bankia.com

Mariano Utrilla Cortijo
mutrilla@bankia.com

Irene Rivas García
irivas@bankia.com

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mcamposla@bankia.com

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jcabeza@bankia.com

 

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abernad@bankia.com

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