The banking sector is one of the primary pillars of the country’s economy. It has also fostered careers of
many women in a spectrum of roles. However, women are still under-represented in the top positions
of majority of banks.
Research suggests that women make up to 52% of banking sector employees globally but they average
only 38% of middle managers and 16% of executive committees. In Nepal, the scene is not that
different. However, banks have begun to understand that a diverse and inclusive workforce is critical
for the strength and vitality of the industry.
WOW spoke to three leading women from NMB Bank which won the Bank of the Year Asia and Bank
of the Year Nepal 2021, to know about career progression of women in the banking sector
Senior Area Manager, NMB Bank, Bagmati Pradesh
WOMEN HAVE RISEN TO THE TOP AND BROKEN SEVERAL GLASS CEILINGS IN THE BANKING SECTOR. WHAT DO YOU THINK ARE THE CONTRIBUTING FACTORS TO IT?
The key factors to push the boundaries are hard work, dedication and constant feeling of wanting to persevere, no matter the circumstances. Our creativity is what makes us different from others. And that, to me, is the most defining factor to an individual’s success. Further, fair competition and environment of equality in the banking industry has supported women to be more creative and in putting forth their opinion more confidently. This somehow has played a very important role in women being able to reach the goals they desire.
Branch Manager, NMB Bank, Babarmahal
HOW DOES THE CAREER PROGRESSION OF WOMEN IN THE BANKING SECTOR LOOK LIKE?
The Banking sector is a dynamic and ever evolving sector at the forefront of the professional cultural evolution, and has led the way for both men and women in representing their unique talents and contribution in financial services arena. Given the fluid nature of the banking sector and myriad of possible career paths that can be possible options in career progression, women have found themselves in a unique position, where gender specific qualities of women such as stability, empathy, and clairvoyance have allowed women to breach new boundaries and break glass ceilings with each new generation of talented women rising steadily to the top echelons of the banking sector. Despite of the remarkable progress women have made in career progressions, specifically in the banking sector, there is still room for improvement in equitable judgement and progression choices, high involvement in decision making process. NMB Bank excels in this area and is in a unique position where women equitable work benefits, a major contributing factor in the success of the bank, involvement of women in different managerial roles and responsibilities, and the deserving accolades it has received from national and international bodies.
Branch Manager, NMB Bank, Thapathali
WHY IS BANKING SEEN AS SUCH A NATURAL FIT FOR WOMEN?
Banks offer a promising career for hardworking and best women talents. In addition to that, banking is considered as a prestigious and secure job in our society. Also, bank provides good remuneration, financial rewards and respect gender equality. I believe gender gap in banking sector is shrinking through the active participation of qualified and competitive females and within few more years, there will be immense proficient women representative in top managerial positions also. Now, it’s high time to encourage and provide opportunity to capable women for further career growth in banking. The economic participation of women and their presence in the workforce in quantitative terms in financial sector like banking is important for economic development of Nation.