Corporate responsibility takes center stage at BBVA, and is integrated into its organizational structure with the launch of a new unit: Responsible Business. Antoni Ballabriga shall be responsible for this new area, which has the mission of ensuring that the company puts people at the center of its decision-making.
“The best way forward in responsible banking is for us to form part of the team that will be at the origin and development of the products until the end of the value chain, with the solutions we offer our customers.” With these words Antoni Ballabriga, the new Global Head for Responsible Business at BBVA, laid the groundwork for an initiative which positions the company as the first major bank in the world to put corporate responsibility at the heart of its business.
BBVA is aware that in a changing world, with new digital environments, it is important to reiterate the commitment to work for a better future for people. This commitment must be present in all the processes that the company carries out; from solution design, through marketing, sales and customer relationships to claims and recoveries. “We have to give a firm response and lead this change. Our societies and customers are asking for real responsible banking,” Ballabriga stated.
TCR, financial literacy and social impact
The implementation of the Responsible Business Unit, which is part of the Customer Solutions area, led by Mark Jamison, responds to the need to provide an answer to the expectations of society and be a key factor in building trust and reputation. To achieve this, BBVA has established three pillars on which its activity will be based.
First, the principles of transparency, clarity and responsibility (TCR) will play a leading role, both in communication with customers and the general public, as well as in the design of products and services. Financial literacy, which is essential for people to make decisions that best suit their needs, will be high on BBVA’s agenda. Finally, the company will work to develop products that have a high social impact and are responsive to social and environmental challenges, in all places where it operates. In addition, Responsible Business, in collaboration with all BBVA units will reinforce and coordinate responsible business culture, social, environmental and reputational risks, reporting, investor relations and responsible procurement.
The new unit is not starting from scratch in this challenge. BBVA has been working intensely for years on its community involvement that, from now on, will be promoted and coordinated by Responsible Business. Last year alone, as published recently in its “BBVA 2014 Social Impact Report in Spain”, the company invested more than 107 million euros in social programs. This unit will report periodically to the Working Group Strategy, with the participation of the President and CEO, and the Board of Directors of the Group.