The BBVA Group’s Code of Conduct, approved by the board of directors in December 2003, is of application to all those entities that form part of the Group and is binding for all their employees, being extended also to any other person or entity that has dealings with the Group whenever, given the nature of this contact, their modus operandi may have a bearing on BBVA’s reputation.

     The Code pays special attention to ethical values, amongst which the following should be singled out:

• Respect for an individual’s dignity and their inherent rights.
• Respect for equality amongst people and their diversity.
• Strict legal compliance.
• Professional objectivity.   

     The Code explicitly refers to the commitment undertaken by the BBVA Group through the application of the provisions of the Universal Declaration of Human Rights, the United Nations’ Global Compact and of other agreements and treaties involving international bodies, such as the International Labour Organisation. 

     In order to further an understanding of the Code’s content, all BBVA employees have been given a copy and have attended formal instruction sessions in which clarification has been made of its core elements. Furthermore, as permanent support features for its dissemination and for clarification of possible grey areas, a dedicated portal has been created with a training course, both of which are available to all employees over the intranet.

     BBVA has drawn up specific rules that develop some of the principles and criteria contained in the Code of Conduct, amongst which special mention should be made of the following:

• Rule on the “Acceptance of Gifts and Gratuities”: this develops the content of the Code’s sections 6.9 to 6.11 and states that gifts of a promotional nature or tokens of courtesy received whose monetary value exceeds €150 are to be donated to charity. Likewise, it details the procedure to be followed for carrying out this donation. 

•  Rule on the "Delivery of Gifts and Organisation of Events": it lays down criteria and guidelines that develop the generic principles established in the Code’s sections 4.38 and 4.39, regarding the delivery of gifts and donations, as well as the arrangement and invitation of third parties to seminars and other kinds of events organised by BBVA for the promotion of its products and services.