In 2020, we worked with 1,464 suppliers, for a total turnover of 107.59 million euros.

Our suppliers

In 2020, the Banca Generali Group engaged in dealings with 1,464 suppliers, generating a total value of 107.59 million euros, broken down into 98.57 million euros (91.64% of the total) referring to Italian suppliers and 9 million euros (8.36% of the total) to foreign suppliers.

Suppliers Number 1,464 1,767 1,529 1,483
Cost for suppliers 107,590 102,264 100,190 93,649

While maintaining an autonomous procurement policy and bargaining position in dealings with suppliers, we follow the Generali Group’s principles. In selecting our suppliers, we adopt the principles of integrity, honesty, impartiality, transparency and apply criteria relating to the competitiveness and quality of the products and services offered.

The selection process 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.

We also promote fair and sustainable competition amongst our suppliers and adopt a balanced approach, avoiding the creation and maintenance of positions of economic dependency. We work 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, we privilege Italian suppliers, and in particular companies able to supply goods and/or services throughout Italy.

We have issued a specific circular entitled “Purchasing Management” governing the procedures applicable to our procurement process. A special procedure is envisaged for related party transactions.

We have defined the Group’s Policy for the Environment and Climate that sets the objectives and undertakings that guide our choices and actions, including procurement, in order to make a positive contribution to sustainable development.

We have insurance covers, as well as adequate contractual clauses covering damages caused by providers of infrastructure and services.

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The goal of our work is to improve the lives of our customers, turning a promise into reality.