Social Responsibility Management2019-08-08T17:00:51-05:00

Social responsibility is our way of conducting business.  Ethics, transparency in operations, and our social commitment to the sustainable development of our country, guide Banco General’s business decisions.

It is a human issue that transcends throughout the organization, because we understand the commitment we have with our stakeholders: shareholders, employees, customers, suppliers, community and regulatory entities.

Our stakeholders are those who are impacted by the bank’s influence and, that at the same time, impact the bank’s operations.  Our stakeholders were defined in 2008 as part of an exercise with that purpose, performed by members of the Social Responsibility and Business Ethics Committee, in which executives within the different areas of the organization participated.  For their definition, the groups that were more directly impacted by the bank, due to the nature of its operations, were taken into consideration, and six groups were defined:

Commitment and dialogue with our stakeholders

Employees
In order to include employees and obtain knowledge of their expectations and interests, we periodically carry out an anonymous Organizational Climate Survey.

The results of such survey are analyzed by a special Human Capital Committee, and based on this, a plan at organizational level by department is developed to address the needs found.

Additionally, the Chairman of the Board of Directors has weekly business breakfast events with groups of employees from the different areas and levels of the organization. During these breakfast events, there is a pause to listen, and their concerns are systematically recorded for follow up.

Additionally, the bank always reinforces the open-door policy, whereby all employees have the right to express their concerns.

Shareholders
Banco General has an open-door policy for its more than 900 shareholders, their needs/concerns addressed every day of the year by the Office of Shareholder Services, available to them at the corporate offices. The bank has a person exclusively dedicated to dealing with the shareholders and addressing their concerns and questions that are always welcome. Additionally, they receive formal quarterly communications from the Chairman of the Board with information on the company, as well as the Annual Report and the Report on Social Responsibility. Banco General’s results are presented annually at two Shareholder general meetings of Grupo Financiero BG and Empresa General de Inversiones.

Customers
Listening to our customers is a priority at Banco General, and therefore, we have various communication channels customers can use to contact us. These include:
• Suggestion boxes at the branches. It is worth mentioning that all suggestions are received and evaluated by Customer Service.
• Mailbox on our website www.bgeneral.com.
• By telephone at our Customer Service Department.
• Customer Service chat.
• Claim Management Department
• Social media (Twitter:@bgeneralpromos and Facebook/bgeneral).
• Surveys outside bank branches
• Focus groups specific for product development.

Suppliers
The relationship with more than 1,500 suppliers is based on good faith and ethics principles. The policies that guide our relationship with them are embodied in our Code of Ethics and Conduct, and our purchasing management is always in contact with them, either by phone, e-mail or by personally visiting their companies. Many of our suppliers are also our customers, therefore their company, reputation and moral soundness is well known to us. In 2014 we started a series of meetings with a group of suppliers to present our Social Responsibility vision to them, to acquire knowledge of theirs and exchange improved practices.
Regulatory Entities

The Compliance and Safety Department, and Legal Services, work together hand in hand to guarantee an open relationship with regulators and strict compliance with the laws and regulations that are being updated.

Our Code of Ethics and Conduct clearly details that our relationship with regulators must be based on principles of good faith, transparency and collaboration, always through the individuals designated for that purpose.

Community

Our relationship with the community is developed through 170 NGOs supported by us, who visit us regularly. Personnel from the Good Neighbors Foundation also visit communities, and as part of the protocol for resource allocation, a detailed report of the work performed by these NGOs is prepared.

Likewise, we are in contact with the community through information channels, calls, e-mails and appointments where, with expert individuals, we discuss different social subjects regarding the needs of our communities and country.

Thanks to this direct relationship, Banco General has been able to understand that the community’s greatest need lies in education, therefore, investment in this area has increased during the last few years.
Materiality

In 2013, Banco General contracted the consulting services of KPMG Mexico to carry out a materiality and benchmark study regarding corporate social responsibility, with the purpose of finding the sustainability matters of more relevance to the organization and identify those matters that are not currently part of our strategy and represent opportunities.

The analysis identified the economic, social and environmental aspects which are relevant both intrinsically and because of the relevance of these concepts for different interest groups. It is worth highlighting that since all Banco General’s subsidiaries operate within the banking, finance, insurance and retirement management industries, all similar, the material aspects apply to all.

In the materiality study, the following were found as urgent issues:

• Operations
• Customer relations management
• Development of products and services
• Corruption, bribery, transparency
• Ethics and integrity
• Labor practices
• Risk management
• CSR management
• Relationships with stakeholders
• Brand management
• Human capital development
• Impact on communities/financial inclusion
• Water resource management
• Human rights

We also found that, even if not of urgency, there are issues that are mature in the financial industry and that, for this reason, could represent an area of opportunity for the bank:

• Waste management
• Attract and retain talent
• Energy efficiency
• Materials

Taking this into consideration, Banco General developed a three-year CSR strategic plan to achieve the short and long-term goals. This plan is based on the more relevant issues found in the study.

As we report

We translate our management into concrete and measurable actions, based on the guidelines represented under ISO Social Responsibility Standard 26000 and the principles of the United Nations Global Compact, and we share the results of our Social Responsibility Report annually.

GOVERNANCE