Our Philosophy on choosing Suppliers
The Bank’s supplier relations are governed by the principles of merit-based selection and transparency in the contract terms. Collaboration proposals and financial offers submitted by potential business partners and suppliers are evaluated on the basis of established criteria and processes, which are incorporated both in the responsibilities of the Group Engineering Project Management & Administration Support Division and in the relevant Group’s Outsourcing Policy.
The Bank works with suppliers who meet objective and measurable criteria, such as the performance and quality to price ratios, reliability and market position.
There are uniform procedures applied to all suppliers, who are regularly evaluated, so as to maintain relations with most appropriate ones based on the progress of the cooperation. It should be noted that almost 100% of the suppliers that used, are local in each country, except from furniture, cashier counters and signs, for which the Group has signed a global contract in order to maintain a uniform corporate identity.