Banco Santander And Bankia

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Banco Santander and Bankia are two Spanish banks that focus on sustainability in the banking system and support national and international projects related to sustainability. Santander and Bankia have followed an opposite policy in the past, and it is fascinating to see how their policies have converged. The first bank, Santander, was and continue to be an excellent example of a sustainable bank; and the second bank, Bankia, was in the past an example of a bad bank with very low credibility and a bad reputation in Spain.

Banco Santander is the largest Spanish bank, founded in 1857 in Santander. According to Forbes (2016), Banco Santander was the 14th largest bank in the world in 2016 and the 37th in 2000. Banco Santander believes in his social
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General sustainability policy, where the bank´s principles regarding sustainability are defined. The sectoral policies, which define the criteria used to strategic sectors such as energy, defense and soft commodities and determine or limits financing certain sectors or activities. The human rights policy, where the Banco Santander shows his commitment to the protection and respect of human rights. The climate change policy, where Banco Santander shows his commitment in to fighting climate. Finally, volunteering policy, where it is stated the sector in which Banco Santander is going to focus his volunteering (education) (Santander “Sustainability report 2015: We want to help people and business prosper”).

Moreover, Banco Santander has signed with the following international institutions to achieve a more sustainable business model: United Nations Global Compact, Banking Environment Initiative (BEI), World Business Council for Sustainable Development (WBCSD), UNEP Finance Initiative, The Wolfsberg Group, Equator Principles, Round table on Responsible Soy, Principles of Responsible Investment (PRI), Working Group on Sustainable Livestock and Carbone Disclosure Project (Santander “Sustainability report 2015: We want to help people and business
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In 2010 Bankia was created as a result of the integration of seven Spanish cajas de ahorros (savings banks): Cajas de Ahorros y Monte de Piedad de Madrid, Cajas de Ahorros de Valencia, Castellón y Alicante (Bancaja), Caja Insular de Ahorros de Canarias, Cajas de Ahorro y Monte the Piedad de Ávila, Caixa d´Estalvis Laietana, Caja de Ahorros y Monte de Piedad de Segovia and Caja de Ahorros de la Rioja. In 2011 Bankia went public and since 2013 Bankia takes part in the exclusive group of the Ibex 35. According to the annual report of Bankia in 2015, Bankia had a ROE of 10,6% that year and a default rate of 10,8% (Bankia. “Creación del grupo

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