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Responsible procurement

BBVA´s relationship with its suppliers is governed by the Code of Conduct, by Code of Conduct for suppliers and by the Corporate standard for procurement of goods and contracting services

Responsible procurement

At BBVA, we want to positively contribute to the development of the societies in which we operate. We understand that integrating ethical, social and environmental factors into our supply chain is part of our responsibility. For this reason, we have developed a Code of Ethics for Suppliers defining minimum standards of behavior with regard to ethical, social and environmental conduct that we expect suppliers to follow when they provide us with products and services. Likewise, this Code reflects the aspiration of BBVA to promote Human Rights in its relations with suppliers, an aspiration that is incorporated in the Commitment to Human Rights.

The Corporate standard for procurement of goods and contracting services establishes the general structure of the procurement process

The Corporate standard for procurement of goods and contracting services establishes the general structure of the management and negotiation process to be followed in the BBVA Group procurement chain for the acquisition of goods and contracting of services

The procurement of goods and contracting of services is governed by the General Procurement Principles. These are:

  • Compliance with regulations
  • Commitment to responsible business
  • Prevention of corruption
  • Relationships based on respect
  • Concurrence
  • Objectivity
  • Transparency
  • Value creation
  • Confidentiality
  • Continuous improvement
  • Segregation of functions
  • Relationships with suppliers

Supplier evaluation

As a general rule, to be able to work with BBVA, suppliers must go through an assessment process, in order to identify the risk level associated and verify that they comply with the standards required.

The supplier evaluation model is global for the entire BBVA Group and is based on a taxonomy of different risks, defined by the BBVA Group’s risk specialists.

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