In 2018, the Banca Generali Group engaged in dealings with 1,529 suppliers, for a total of 100.2 million euros, broken down into 92.5 million euros (92.4% of the total) referring to Italian suppliers and 7.6 million euros (7.6% of the total) to foreign suppliers.
|Number of suppliers||1,529||1,483|
|Expenditure/suppliers ( thousand)||100,190||93,649|
While maintaining an autonomous procurement policy and bargaining position in dealings with suppliers, Banca Generali follows the Generali Groups principles. These principles are integrity, honesty, impartiality, transparency and the selection of suppliers based solely on criteria relating to the competitiveness and quality of the products and services offered. The process of selecting suppliers is based on clear, well-defined and non-discriminatory procedures, through the exclusive use of objective, documentable and transparent parameters tied to the quality of the products and services offered.
Banca Generali also promotes fair and sustainable competition amongst its suppliers and adopts a balanced approach, avoiding the creation and maintenance of positions of economic dependency.
It works only with suppliers who conduct their business in rigorous compliance with national and international laws and regulations, safeguarding human right and labour protection, and comply with the principles enshrined in the Code of Ethics adopted by the Bank.
In selecting suppliers, Banca Generali privileges national suppliers, and in particular companies able to supply goods and/or services throughout Italy.
Banca Generali has issued a specific circular entitled Purchasing Management governing the procedures applicable to its procurement process. A special procedure is envisaged for related party transactions.
The Groups Policy for the Environment and Climate defines the objectives and undertakings that guide the Groups choices and actions, including procurement, in order to make a positive contribution to sustainable development.
Banca Generali has insurance covers, as well as adequate clauses covering damages caused by providers of infrastructure and services.