The presence of women on boards of directors in the financial sector is low worldwide. This is confirmed by the recent IMF report “Women in Finance.” The statistics are even worse in developed economies and in digital companies that are among the banking industry’s new competitors. It is possible that this lower female representation in leadership positions explains part of the gender pay gap recorded in the financial sector.
Despite this evidence, numerous studies conclude that the diversity of thought brought by women in company management increases their value, improves competitiveness and stability, and enhances adaptability for the future. Reversing the current situation must be a priority for society. It is not only a matter of justice but also of sustained improvement in business efficiency.
In recent times, regulations have been approved to increase the inclusion and equality of women in companies, although their effects are being slower than expected across all sectors. Some experts recommend complementing these measures with macroeconomic initiatives ranging from education for equality in schools to facilitating work-life balance and equal rights in childcare, as well as promoting better training for women within companies.
In Spanish banks, there are notable examples of women’s participation in management positions, in some cases leading them, which is undoubtedly fundamental for progressing towards eliminating gender discrimination. Many of our entities maintain public parity targets that will form the basis for achieving the ultimate goal of equal treatment and opportunities for men and women in our sector.
