Annual Report 2014 BBVA Group Business areas Primary stakeholders


Materiality and dialog with stakeholders

Communication and dialog tools 

At BBVA we have a broad range of consultation and dialog tools with all our stakeholders in each country and business area in which we operate.

These tools guarantee two things: that stakeholders have the proper service channels available and BBVA has sufficient sources of information to know what their priorities and expectations are and can thus respond to their needs.

Customers and society

Communication and dialog tools Scope
Satisfaction and recommendation survey for customers and other qualitative and quantitative quality and satisfaction research by our Customer Solutions area BBVA Group
Customer service and complaints and claims analysis committees         BBVA Group
Customer ombudsman  BBVA Group
External reputation survey of customers and the general public (RepTrak)     BBVA Group
Continuous tracking or monitoring of advertising and the brand BBVA Group
Focus groups and workshops with customers to learn their opinions on specific issues (in addition to service quality)      BBVA Group

Analysis of our presence on the social networks (Facebook, Twitter, etc.) and online media:

  • HootSuite
  • Blog bbvasocialmedia.com
  • Epsilon Dashboard
  • Alto Analytics
BBVA Group
Analysis of our presence on the media BBVA Group
Direct dialog with NGOs, the media, experts and academic and research centers BBVA Group
Secondary sources for trends and expectations in public opinion and civil society organizations BBVA Group
Involvement in Corporate Responsibility and Reputation events and forums BBVA Group
BBVA Research     BBVA Group
Communication and Responsible Business / Corporate Responsibility and Reputation Department. It uses most of these tools/sources, acting as a “radar” BBVA Group


Communication and dialog tools Scope
Employee Care Service  BBVA Group
Employee satisfaction surveys BBVA Group
Internal reputation survey, RepTrak BBVA Group
TÚ&BBVA magazine - Passion for People BBVA Group
Employee Portal: TÚ&BBVA BBVA Group
Genera Portal BBVA Group
Interviews setting objectives, competencies and feedback BBVA Group
Talent & Culture managers BBVA Group
Google+ communities BBVA Group 
​United States)
Digital magazine Spain
Apúntate BBVA Group
Department of Labor Relations and liaison with workers' representatives Spain
Works Committees Spain
Equality Committee Spain
Health and Safety Committee Spain
Apartments Committee Spain
Pension Fund Control Committee Spain
Technical Pension Fund Committee Spain
European Works Committee Spain
Results presentation meeting BBVA Group

Shareholders and investors

Communication and dialog tools Scope
Annual General Meeting of Shareholders BBVA Group
Website (accionistaseinversores.bbva.com) BBVA Group
Annual report, quarterly reports and significant events BBVA Group
Constant contact with shareholders and investors (email and telephone helplines, events in branches, etc.)   BBVA Group
Roadshows and meetings with shareholders and investors BBVA Group
Attendance at conferences for shareholders and investors BBVA Group
Communication with analysts and rating agencies BBVA Group
Alert services and distribution of relevant information BBVA Group
Analysis of the expectations and priorities of sustainability analysts (MSCI, RobecoSAM, Sustainalytics, Vigeo, CDP, GS Sustain, Oekom, EIRIS) and investors interested in the issue BBVA Group


Communication and dialog tools Scope
Institutional Relations: Coordinates the Bank’s participation in formal and informal forums to gain a better understanding of regulators’ concerns BBVA Group
Departments involved in managing relations with regulators: General Secretary, Legal & Compliance, Global Economics Regulation & Public Affairs, Internal Audit, Global Risk Management, Group Executive Chairman's Office BBVA Group

Reports on regulatory trends:

  • KPMG – Evolving Banking Regulation
  • Deloitte – Top 10 for 2015: Our Outlook for financial markets, regulation and supervision
  • Sustainability Accounting Standards Board (SASB) 
BBVA Group


Communication and dialog tools Scope
BBVA supplier mailbox BBVA Group
Supplier satisfaction survey BBVA Group
Global supplier helpdesk BBVA Group

Materiality analysis

This year, the process of defining material issues has been bottom-up: in other words, each of the countries has carried out its materiality exercise taking into account the local reality. All the exercises have then been consolidated to give a global vision of the Group. This methodology has been prepared following the recommendations on disclosure in the GRI G4 sustainability reporting guidelines. 

The final result of the process is a materiality matrix in which each of the relevant issues identified is classified according to two variables: importance for stakeholders and importance for the BBVA business.

1. Process of defining material issues

a) Identification of material issues:

To draw up the final list of material issues, we have used those issues that have been defined as reputational risks for BBVA and identified other material issues that do not represent a risk.

In both cases the sources used have been:

  1. Research and contacts that provide information on stakeholder perceptions through the consultation tools described in the above section.
  2. Analysis of information from expert observers (NGOs, sustainability analysts, labor unions and other civil associations) that assess company behavior.
  3. Regulatory trends in the sector.
  4. Analysis of competitors: the most relevant issues or controversial subjects that affect them and that may also affect us.
  5. Analysis of the media and social networks: negative news, trending topics, social concerns, etc.

b) Prioritization of material issues:

We have analyzed two aspects for prioritizing material issues: relevance for stakeholders and relevance for the BBVA business.

  • Relevance for stakeholders: To measure the relevance of these issues for stakeholders, we have taken into account how important the issues are for these groups, as well as whether there are legal requirements or related commitments entered into by BBVA. Thus, an issue is more relevant:
    • The greater the number of stakeholders affected and the greater the importance of these stakeholders for BBVA.
    • The greater the impact of the issues for the stakeholders affected.
    • When there are legal requirements or commitments by BBVA related to the issue.
  • Relevance for the business: The relevance for the business involves determining the impact the issue has on BBVA's current and future business. The global Responsible Business Department identifies those responsible for managing each issue at global level and they then identify their local counterparties. These counterparties are those who have calculated the impact on the business of the issues within their area of management.
In 2015, the definition of material issues has been bottom-up and its final result has been a materiality matrix in which the relevant issues are classified according to the importance for stakeholders and the BBVA business

2.    Materiality matrix

In accordance with this process, we have built a materiality matrix for each country. This has then been used to obtain a global materiality matrix for the whole Group.

The consolidation process has been carried out by taking a weighted average of the relevance for the stakeholders and for the business in all the countries. The weighting used has been the gross income in each country.

The resulting global materiality matrix is as follows:

  1. Products with good value for money (without abusive clauses).
  2. Communication and commercialization practices: foster informed decisions.
  3. Quality of customer care and service.
  4. Response to the demand for credit in society.
  5. Customer security, privacy and protection (including big data).
  6. A solution for customers in a difficult situation.
  7. Quality of employment (temporary, outsourcing, relocation, etc.).
  8. Respect for employee rights.
  9. Talent attraction, development and retention.
  10. Remuneration policy for senior management and the Board of Directors.
  11. Social and environmentally responsible finance.
  12. Prevention of money laundering and terrorist financing.
  13. Compliance with the tax code.
  1. Ethical behavior.
  2. Responsible procurement and outsourcing.
  3. Good corporate governance.
  4. Financial solvency and management.
  5. Respect for human rights.
  6. Contribution to the development of local communities (job creation, support for SMEs, etc.).
  7. Financial inclusion.
  8. Community involvement not linked to the business.
  9. Diversity and work/life balance.
  10. Eco-efficiency and the environment.
  11. Digitalization: providing customers with the benefits of digitalization.
  12. Financial literacy.