The principles of transparency and fairness laid down in the Code of Ethics adopted by the Intesa Sanpaolo Group and set out in the Group Procurement Guidelines, were the guiding principles of the Procurement management process reform initiated during 2015.

In particular, worthy of note is the setting up of the Procurement Operating Support Office, as the department in charge of the centralised administrative management of the orders, which allowed to strengthen both substantive and formal checks, in terms of coherence and consistency between ordered, authorised and contracted volumes, separating the issuance of orders from those held for trading.

The use of the e-sourcing Portal continued also in 2015 in order to ensure transparency and fairness principles: a platform that provides an online trading system and allows to impartially compare - with regard to the same purchasing event - a wealth of offerings, differentiating the evaluation of the technical and/or administrative part from the purely economic one. Thus, each supplier, through a special section, can view the status of the purchasing procedures and review the documents available, as well as post their offers.

In this perspective, the market benchmark ("Tenders") is currently the standard purchasing procedure, both in Italy and abroad, since it is the only one capable of allowing greater fairness and transparency in the management and consequent awarding of the purchasing event.

In Italy, the cases of use of "Direct negotiation" permitted only in cases of unplanned urgency or confirmed absence of a number of bidders and, in any case, subject to prior authorisation, were then regulated. During 2015 the total amount awarded through the use of direct negotiations decreased by about 44%.