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Retail Banking

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The Retail Banking area approaches individual customers with a universal banking model

The main goals in this area are: winning new customers; strengthening ties with existing customers; and continually raising their level of satisfaction and loyalty through the provision of high-quality service and advice.

The strategy in this business entails specialisation in different segments: Private Banking; Personal Banking; High Potential Banking; and Retail Banking. This segmentation strategy enables the assignation of customers to specific managers, thanks to which the bank generates higher levels of satisfaction and the ability to tap new sources of business.

In 2017, more customers, more of whom online

At year-end, Bankia had more than 5.9 active retail customers, almost 2.3 million of whom were online customers.

In order pay special attention to each segment or profile, the entity has three kinds of branches: its universal banking branches; the so-called Speedy Branches (with longer opening hours and a focus on quick-to-perform transactions) and the Branch+ (specialised in financial advisory). In addition, the bank targets its 'Connect with your expert' and '+ Value' services at online customers and less bundled customers, respectively.

Bankia tailors its products for its different customer categories. For example it offers special accounts for first-timers, youth accounts and cards (also branded under the trademark _ON) and offers discounts in travel, restaurants, boutiques, technology, household services, health and beauty products, among others. All of these can be availed of through www.bankia.es. In addition, Bankia offers the services of 2,108 specialised managers through its Personal Banking effort.

To support this strategy, Bankia operates several different types of branches: its universal banking branches, the so-called Speedy Branches (with longer opening hours and a focus on quick-to-perform transactions), the Branch+ (specialised in financial advisory) and the 'Connect with your Expert' service (through which it provides advice to online-only customers).

Multi-channel approach

Bankia's business strategy embraces the growing digitalisation of society and its customers. In fact, at year-end 2017, 40.5% of Bankia's customers were multi-channel users and 13.4% of sales were being made through online channels.

Digitalisation is key to the process of adapting the business model to match customer needs and is also a means to maximising customer satisfaction. The bank's multi-channel approach enables its customers to choose how they wish to interact with Bankia at any given time.

This growing business digitalisation translated into the development of a series of online service provision tools, including Bankia Online, Bankia Mobile, loan and mortgage simulators and mobile apps such as Bankia Wallet. The multi-channel management approach also encompasses services such as '+ Value', 'Connect with your Expert', the ATM network, the traditional branches and the 'bus branches'.

Customer segmentation

Private Banking

Targeted at high net worth individuals who require top-notch financial and tax advice. Bankia Private Banking offers the benefits of a boutique advisory firm combined with those accruing from having the backing of a major group. As a result, customers benefit from highly specialised service and the transactional capabilities of a universal bank.

Personal Banking

This service targets customers with a net worth of over €75,000 or annual after-tax income of over €45,000. This segment is serviced by over 2,000 exclusively dedicated managers and advisors who are highly trained. Their mission is to remain in constant contact with their customers, to which end they avail of specific features in the firm's correspondence channels.

High Potential Banking

This segment includes customers who present high potential for business growth and specifically the scope for becoming Personal Banking customers in the future.

SMEs and the self-employed

The retail banking branches also service self-employed professionals, retailers and SMEs with annual revenue of up to €6 million.

Retail Banking

Bankia's retail banking proposition is focused on sight and term savings products, guarantees and debit and credit cards. It also offers products designed to foster a long-lasting relationship and the bundling of other products such as the direct debt of payrolls, bill payment, mutual and pension funds, and insurance and savings policies.

This business segment performed well in 2017, as evidenced by the fact that Bankia granted more than €1.3 billion of consumer finance loans, up 16.7% from 2016. As of 31 December 2017, some 2.3 million customers had been pre-cleared for a credit line that can be arranged in less than one minute through any of the bank's channels; this facility is complemented by an ongoing personalised financing offer.

This segment's healthy momentum was also evident in the volume of transactions performed through the FinanExpress service for micro-financing, which topped 236,945, equivalent to the sum of €92.5 million, up 22.2% year-on-year. This service encompasses transactions ranging from purchases using debit cards to tax payments.

Digital Customers

Digitalisation is key to the process of adapting the business model to match customer needs and is also a means to maximising customer satisfaction. The bank's multi-channel approach enables its customers to choose how they wish to interact with Bankia at any given time.

This growing business digitalisation translated into the development of a series of online service provision tools, including Bankia Online, Bankia Mobile, loan and mortgage simulators and mobile apps such as Bankia Wallet. The multi-channel management approach also encompasses services such as '+ Value', 'Connect with your Expert', the ATM network, the traditional branches and the 'bus branches'.

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