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Procurement policy

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Bankia has specific rules of conduct for the procurements team in addition to its own Code of Ethics and Conduct based on the rules of the International Federation of Purchasing and Supply Management (IFPSM).

Supplier management

Loyalty and honesty

Objective decision-making, transparency and equal opportunities

Confidentiality, integrity and independence in relations

Corporate social responsibility

The bank’s procurements policy therefore encourages a diversified supply chain comprising local, national and international suppliers. This helps spread the generation of wealth in a balanced manner. Transparency in supplier selection is also achieved through a system of authorisations and delegated powers governing scaled decision-making.

Bankia’s commitment to its suppliers is based on a series of established values for the stakeholders it works with:

  • Competition between suppliers for any given purchasing process, to ensure that the organisational unit that submits the procurement request receives the best possible response. Bankia ensures a diversified range of offers from different suppliers in its selection and competitive procurement processes.
  • Independence of Bankia employees, who are expected to adhere to the professional standards established in the Bank’s supplier selection and qualification procedures, in line with the objectives of this policy. Purchases of goods and services must be decided completely independently of any personal, family or economic ties that might cast doubt on the fairness of the decision criteria, all this in accordance with the Code of Ethics and Conduct and the specific rules of conduct for the procurement function.
  • As a certified entity, Bankia must act in accordance with the standards set by the UNE-CWA 15896 standard for value added purchasing management, which unifies work procedures and defines conduct criteria to guide purchasing managers towards excellence in management. The UNE-CWA 15896 standard is based on European best business practices. Compliance with this standard adds value to the company and provides assurance that purchasing operations respect environmental, ethical and sustainability criteria.

  • Transparency in supplier selection, implemented through a system of authorisations and delegated powers, to create a standardised decision-making process based on different stages and transparency about all of the levels involved. To ensure mutual trust and competitiveness between suppliers, Bankia discloses details about its existing procurement policy and supplier certification policy, always subject to proper data protection and confidentiality.
  • Ethical and responsible conduct in dealings with suppliers, showing honesty and respect for people and for social and environmental values. In their relations with suppliers, Bankia employees shall comply at all times with the company’s Code of Ethics and Conduct. Steps shall be taken to ensure legal compliance in all areas. The general terms and conditions of procurement shall not include abusive clauses that are contrary to good faith or to a fair balance between the rights and obligations of the Bank and the supplier.
  • Objectivity in decision making, based on established selection criteria. Procurement shall be subject to objective, carefully considered, measurable, and internally auditable criteria.

  • Diversification of business between suppliers at local, national and international level, to encourage balanced wealth generation and equal opportunities. Each year Bankia will seek to add an appropriate number of new suppliers.
  • Corporate social responsibility (CSR) requirements, so as to ensure that Bankia’s suppliers give proper consideration to CSR. Favourable consideration will be given to suppliers that show:
    • a commitment to product and service quality assurance, environmental protection, information security, innovation and R&D.
    • a commitment to their own organisation and therefore also to their employees, through measures aimed at raising the levels of awareness, training, health and well-being of employees through workplace risk assessments.
    • specific actions in the field of CSR, recorded and reported in an audited annual CSR report.
    • adoption of and respect for the main standards in employment and industrial relations, including the ILO’s fundamental conventions (fair employment practices, right to organise and collective bargaining, prohibition of forced and child labour, and non-discrimination in employment) and any other treaty, convention, guideline or standard issued by an international body.
  • Bankia will avoid purchasing products or services from suppliers that are known to be non-compliant with any legal, tax, employment, environmental, health and safety or human rights obligation.


Relationship of trust and ongoing dialogue with our suppliers, through supplier-accessible account managers, whose mission will be to guide business relations towards a state of mutual collaboration.

  • The search for efficiency is an imperative in financial services, so the purchasing of goods and services shall adhere to the principles of need, suitability and austerity in expenditure. Bankia shall provide its buyers with the necessary applications and systems to be able to meet targets and achieve results.
  • Best purchasing results are achieved by centralising the procurement function for the Bank as a whole, planning the function’s activities and constantly reviewing purchasing processes and procedures.

Responsible purchasing: Principles

In its relations with suppliers, Bankia assesses and controls any risk that may arise from its supply chain. To do this it has developed a global procurement model based on responsible criteria, which are set out in the following principles:

  1. Ensures continuous improvement of the procurement process, based on the principles of corporate responsibility.
  2. Stimulates demand for socially responsible products, services and projects.
  3. Has established a single procurement procedure for all Bankia group companies, so as to optimise the impact of their purchasing decisions on the societies in which they operate.
  4. Provides full, accurate and transparent information in the procurement process.
  5. Ensures that all involved comply with applicable legal requirements in respect of human, employment and environmental rights and participate actively in efforts to prevent corruption.
  6. Ensures that supplier selection and qualification processes comply with applicable internal regulations and, in particular, with the corporate values, management style and Code of Ethics and Conduct for employees.
  7. Monitors suppliers to verify compliance with social responsibility commitments.
  8. Trains all those involved in the procurement process to be sensitive to social responsibility requirements (regulations, disclosure, training).
  9. Ensures consistency between the responsible purchasing principles and Bankia’s other policies.
  10. Commits to its suppliers and works with them to resolve economic, social, environmental and governance issues, improve their performance and ensure compliance with these principles.


This procurement policy and the principles of responsible purchasing apply to all Bankia Group companies and employees, especially those involved in the procurement of goods and services.


The criteria established in this policy apply from 26 February 2016, the date on which it was approved by the Board of Directors, and will be reviewed annually.

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