BBVA Aims for 35% Female Managers by End of 2024

Global financial institution BBVA aims to reach 35% female managers by the end of 2024, building on its current standing of 34.7% in 2023. This commitment aligns with the company’s strategic priority of fostering the best, most committed, and diverse team. Recognizing the positive impact of gender diversity on organizational economic performance and innovation underscores the company's proactive approach to creating an inclusive workplace.

The bank is proactively “breaking glass barriers” to create an environment where women's talents can flourish and contribute to organizational success. Employing a multi-faceted strategy, BBVA is actively executing the 'I am female talent' program, tailored for employees exhibiting significant growth potential. Concurrently, it has revamped its remuneration policy for executive directors, dedicating 5% of long-term variable remuneration to a diversity indicator. This indicator specifically tracks the advancement of women into managerial roles within the BBVA Group.

BBVA Global Director of Talent and Culture, Carlos Casas, is optimistic about a positive trend in gender equality. In response, the bank is proactively strengthening its commitment to gender equality by raising the target for the end of 2026 to 36.8%. Casas emphasizes this proactive stance, stating, "[w]e are very optimistic when observing the trend of recent months and we want to anticipate by reinforcing our commitment to gender equality."

To reach this goal, the bank regularly reviews promotions of female talent at different organizational levels on a quarterly basis. This assessment is crucial for evaluating the effectiveness of implemented measures and ensuring steady progress towards the elevated target.

In Mexico, BBVA openly acknowledges the underrepresentation of women in managerial roles, recognizing the pivotal role their inclusion plays in enhancing profitability. According to Ana Paulina Pinto, Executive Director Rates in Global Markets, BBVA Mexico, women bring valuable skills like multitasking, which is essential in scenarios where quick decisions impact financial outcomes. While acknowledging progress in the financial world's gender equality landscape, Pinto notes the pace is slower than desired citing the persistence of unconscious biases affecting decision-making processes.

“Fortunately, today we are focusing more on the importance of more inclusive and diverse teams. There is progress, but we are only just getting started, ”said Pinto. 

As BBVA continues to demonstrate its commitment to gender diversity and leadership representation through these strategic initiatives, it also has implemented programs like BBVA Tech Women, specifically designed to boost the participation of women in the STEM field. In the last year, there has been an increase in the representation of women in STEM from 29.5% to 30.6%.