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Responsible governance

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The purpose of the Corporate Governance System is to meet corporate goals, common to all shareholders, and creating long-term value

CORPORATE GOVERNANCE

Bankia has a consolidated governance structure that operates effectively within the framework of the principles of good corporate governance.

Bankia's Board of Directors approved the Corporate Governance System in 2015 as a general framework for internal regulation, which affects the bank and the rest of the companies that make up the Bankia Group. All of this meets the requirements of national and European banking regulations and the recommendations and principles of good governance contained in the good practice guides of supervisors and regulators.

The Corporate Governance System guarantees the proper functioning of internal governance and ensures sound and prudent management of the Group and the Bank.

The Group's corporate values informs this system in terms of business ethics and corporate social responsibility. Its basis is the principles of good governance assumed and developed by society and included in the Code of Good Corporate Governance.

RESPONSIBLE MANAGEMENT BOARD

All initiatives and projects related to Bankia's responsible management system are promoted by the Responsible Management Board, which was created in December 2014.

Within the Board of Directors, the Appointments and Responsible Management Board assumes the non-transferrable duties corresponding to the Responsible Management functions:

  • Review the company’s corporate social responsibility policy, ensuring that it is oriented towards value creation.
  • Monitor the Company’s corporate social responsibility strategy and practices and assess the degree of compliance.
  • Supervise and assess relations with the various stakeholder groups.
  • Evaluate everything related to the company's non-financial risks, including operational, technological, legal, social, environmental, political and reputational risks.
  • Coordinate non-financial and diversity reporting, in accordance with applicable laws and regulations and international standards.

The Responsible Management Board, created in December 2014, meets quarterly, reports to the Appointments and Responsible Management Board and represents what stakeholders demand from Bankia on a daily basis.

Responsible Management Governance

Responsible Governance Bankia

Responsible Governance Bankia

RESPONSIBLE MANAGEMENT POLICY

The responsible management policy is the bank's framework for action and the cornerstone of its strategy to become a sustainable bank.

Drafting the responsible management policy was one of the first tasks of the Responsible Management Board. This policy has a global scope and affects all of Bankia's activities and is therefore a global and transversal reference framework. Moreover, this text establishes the principles upon which the entity must develop its relationships with its stakeholders and is the basis for inspiring policies, action plans and procedures, in order to translate the commitments made to day-to-day into reality.

The responsible management policy is:

  • Realistic: framework of reference for the execution of the bank's policies.
  • Cross-cutting: global scope, referring to all Bankia activities and applicable to all employees.
  • Establishescommitments with all stakeholders.
  • Simple and clear.
  • Our own: it is applied to projects, objectives and indicators of the bank.

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