CORPORATE GOVERNANCE &
CITIZENSHIP
The Mexican banking system has built up a solid corporate governance structure that has allowed us to generate sustained growth, institutional strength, and sustainable development
Mexican banking institutions have succeeded in strengthening their corporative governance: their solid governance structures are backed up by people with successful professional careers and ample experience in a wide range of areas, including economics, finance, marketing, social sciences, technology, industry, commerce, and communications. Their contribution has been fundamental to strategy, operations, conflict resolution, monitoring, and the rendering of accounts, to mention only some aspects.
Nowadays, sustainability and relations with stakeholders are so important that the highest corporate governance bodies are directly involved in projects such as budget approval and the monitoring of actions and results. They also take a hand in resolving issues dealing with employees and customers.
Ethics
Ethical conduct within the banking system begins with compliance with the law and banking regulations, before extending to relations with all the system's stakeholders, especially customers, employees, suppliers, and the authorities. The individual codes of ethics of the banks are made familiar to all employees from the moment they are hired and circulated permanently through other media, including in-house magazines, lectures, brochures, and web pages.
In order to encourage and to monitor ethical conduct, the banks have created confidential complaint systems open to employees, customers, and suppliers. These systems contain protocols specially designed to facilitate the processing, evaluations, and resolution of allegations and complaints. If they proceed, sanctions are applied in some cases by the highest governing body of the institution.
Transparency
Transparency governs the performance of the banking system and is part of its commitment to ensuring that information circulates freely among customers, employees, and the authorities. Acting with clarity generates benefits for all: employees are aware of their rights, customers understand the specific characteristics of products and services, and the authorities are familiar with the situation of the banks.
In addition to the reports and public information that the individual banks prepare for the authorities and their customers and employees, this report comprehensively details the activities of the banking system in the realm of sustainability: actions, commitments, and results in the economic, social, and environmental areas. This pioneering document on the Mexican banking system has become a model to follow in other Latin American countries.
Responsible Marketing
Ethics and transparency are indispensable values in the creation of responsible marketing that guarantees the customer's right to fully understand the characteristics of the products and services offered by the banks, to ensure informed choices . Both society in general and the banking system itself are benefitted by responsible marketing: clear information contributes to rational financial decisions by individuals and consequently to the reduction of financial risks. One example is the financial calculators or simulators available for certain credits (such as mortgage loans). Using these tools, customers can review repayment forecasts and so determine the best credit options for their particular situations.
Citizenship
As a good corporate citizen, the banking system participates in forums and initiatives to foster the financial sector, sharing experiences and learning about best practices. This exchange makes it easier to join forces in undertaking actions on behalf of economic, social, and environmental development in Mexico.
Since its beginnings, the banking system has supported and promoted a range of programs, providing professional counseling and maintaining constant communications and collaboration with numerous institutions and associations, including:
Asociación Mexicana de Administración de Fondos para el Retiro (AMAFORE)
Asociación Mexicana de Instituciones de Seguros (AMIS)
Banco de México (Banxico)
Buró de Crédito
Centro de Cómputo Bancario (CECOBAN)
Círculo de Crédito
Club de Banqueros
Comisión Nacional Bancaría y de Valores (CNBV)
Comisión Nacional para la Protección y Defensa de los Usuarios de la Servicios Financieros (CONDUSEF)
Consejo Coordinador Empresarial (CCE)
Consejo de la Comunicación
Instituto para la Protección del Ahorro Bancario (IPAB)
Secretaría de Hacienda y Crédito Público (SHCP)
Servicio de Administración Tributaria (SAT)