The International Subsidiary Banks Division’s Procurement Policy

Environment

A very important step in the dissemination of good practices at the Group's International Subsidiary Banks is the procurement management strategy which was centrally developed by the International Subsidiary Banks Division.  The “Procurement” project, which involved Pravex Bank in 2009 and will progressively be extended to the other Group subsidiaries in 2010, aims to create a template, guidelines and a set of indicators to include criteria of quality and social and environmental responsibility in procurement processes.
In particular, the aim of the project is to:

  • ensure the use of good professional practices in all procurement processes
  • ensure the regularity of procurement processes, management of tender procedures and contracts, and granting and monitoring signatory powers by nature and amount
  • manage purchases by supervising the following processes: demand analysis, market
    research and analysis, selection of suppliers and contracting, planning, reporting and control of purchases.

In this context, the Procurement Departments of the subsidiaries are in charge of purchasing goods and services required for operational activities on the reference markets, managing the selection of suppliers and signing contracts in compliance with the criteria of economy and reliability of suppliers. The Code of Ethics and the Group Code of Conduct, acknowledged and implemented by all companies, in turn, ensure that the conduct principles to adhere to in the relationships with suppliers comply with the Group’s values of social and environmental responsibility.