The Charter of Values – approved in January 2008 – identifies those values on which the Group has based its identity and which, in both its strategic choices and its everyday business, must guide the conduct of personnel in their relationships with customers and all other stakeholders.

General ethical principles and rules of conduct for relations with all stakeholders are drawn from those values and they are declared in our Code of Ethics, of which our Charter of Values forms an integral part.

Centrality of the Customer

Customer satisfaction is the guide to our work, in order to build relationships of trust which last over the years.

We constantly listen to our customers, to help them to focus on their needs and to offer them the best solutions, with relationships tailored for each type of customer.

Integrity
We are committed to acting with a deep sense of responsibility, keeping faith with our commitments with conduct designed to enhance the reputation of the Group and the value of its relationships.

We work with confi dence and optimism, aware of our own knowledge and capabilities, strengthened by our past and open to the new.

Co-operation

We work with an open and proactive attitude, seeking contributions from all our stakeholders and promoting interaction between colleagues and different realities within the Group to draw value from the mutual exchange of expertise and experience.

Creation of value

We perceive our institutional role in terms of attention to others, to be put into practice by creating sustainable value for all stakeholders by means of an integrated system of social responsibility which fully implements our vocation as a co-operative bank laid down in our corporate by-laws.

Communication

We are committed to providing clear, prompt and full information to all our partners by using adequate channels of communication.

We wish to encourage knowledge sharing within our Group and constructive dialogue between managers and workers based on mutual respect, with streamlined

decision-making and clear and well-defined responsibilities.

Fairness
We pursue corporate objectives in observance of ethical principles and with respect for the interests of all our stakeholders.

We encourage a working environment that is based on the value of individuals, which preserves a proper balance between private life and professional commitment and which values differences, by promoting the development of individual professional aptitudes through transparent and merit-based assessment.

Identity
We orient our strategic decisions and daily action in the constant search for excellence and the establishment of a corporate image which expresses philosophical, strategic and operational consistency.

We are committed to integrating localism with a vision of the whole, capitalising on the great variety of corporate experiences and vocations present in the Group.

The community

We wish to continue to grow together with our customers and the communities in which we operate, by encouraging the growth of a healthy economic and business community, capable of generating social value in the medium to long term.

We formulate commercial and support policies that are attentive to the real needs of individuals, families, businesses, professionals and social organisations in the community.

Innovation

We continuously seek new ideas to improve processes, products and the efficiency of services.

We encourage continuous learning and the challenge of competition to increase our capabilities and to stimulate an open attitude to change.