Intesa Sanpaolo is committed to effectively managing the implications and risks of an ethical, social and environmental nature of its supply chain. For this purpose and in compliance with the principles in the Code of Ethics, it has adopted Group Procurement Guidelines and Purchasing Rules, which observe social and environmental responsibility criteria and must be adopted by all functions involved during the sourcing process.
Since 2012, a project has been underway to centralise Group purchasing, with the main aim of making the purchasing model, rules and processes uniform. In this context, during the second half of 2016 contract standards were revised, to streamline relations with all suppliers, including international suppliers, and subsuppliers, to improve monitoring of specific issues.
In 2016, overall expenses incurred by the Intesa Sanpaolo Group totalled over 2.6 billion euro, broken down as follows*:
Breakdown of 2016 administrative expenses [%]
* The figures and comments refer to the reclassified consolidated income statement published in the 2016 Financial Statements.