The relationship between banks and operators in the military sector has been the subject of attention by Italian civil society for some time. For this reason, and in line with the principles of the Code of Ethics, starting from 2012, the Bank has adopted the “Linee Guida di Gruppo per la regolamentazione dei rapporti delle banche del Gruppo BPER con gli Operatori della difesa e le Imprese produttrici di armamenti”. With these guidelines, banks of the BPER Group have adopted a self-governance that regulates, more stringently than required by current legislation, their presence in this sector. In particular, in relation to transactions supporting the import/export of arms, Banks of the Group have decided to adopt internal rules that establish which transactions can be authorised and which cannot, without enforcing an absolute prohibition.

Therefore, Group banks may be included in the annual Reports drawn up by the Presidency of the Council of Ministers pursuant to Law 185/90 (which sets specific limits on the export, import and transit of specific types of weapons), in relation to transactions that, according to the Group, minimise the risk that the goods produced or services rendered be destined to parties other than those with democratic governments. Moreover, the Guidelines also govern other types of transactions, such as loans, for which the banks of the Group must report the key aspects of the relationship between the credit institute and defence operator. In fact, the Group’s banks agree to publish an annual statement highlighting the activities that the BPER Group has carried out with companies that operate in the defence sector. This annual report is published, along with the guidelines, on the Group’s website (sustainability section).