The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
A new BBA report ‘Diversity and inclusion in banking’ highlights current successes and the challenges that remain, including the need to define the ‘carrot and stick’ for the diversity agenda.
The new report, published today, offers a review of the published data and findings from 2014 strategic reviews, annual reports and CSR reports across the industry.
It shows strong progress on meeting gender representation targets, partly driven by Government, jointly championed with industry via the Davies Review agenda, and supplemented by voluntary industry initiatives like the 30% Club. Bringing together research and data from recent studies, the report shows:
BBA Chief Executive, Anthony Browne, said:
“Our ‘Diversity and inclusion in banking’ report shows that progress on diversity can, and is, being made on a voluntary basis in the banking sector. And by voluntary, you should not read half-hearted effort – the report’s findings show that the days of the old boys club in banking are numbered.”
“But we are not complacent and we recognise the on-going challenge of this agenda for an industry that still has a reputation for pinstripes and braces. Work still needs to be done to increase the number of female senior managers and address the problem of the corporate pipeline. Diversity is more likely to be achieved if there are internal consequences for not trying to improve it. Our industry intends to lead, not to follow.”
“The BBA also supports the Government’s Think, Act, Report initiative, pay transparency measures and continued focus on the crucial area of diversity. We welcome the aims of the Gadhia Review and look forward to seeing the detail of the next steps.”
Minister for Women and Equalities, Nicky Morgan said:
“I’m pleased to see the banking sector has followed the recommendations in Lord Davies’ report and increased female representation at board level to 31 per cent. As a country we cannot afford to waste the talents of a single person, let alone half our population, and that is why women everywhere should be given the opportunity to fulfil their potential. We must continue to increase women’s representation in UK boardrooms and secure lasting change for the benefit of women, business and the economy.”
Government initiatives are one means by which the pace can be quickened, but a wide range of corporate initiatives also show promise. In particular, the report highlights the range of initiatives, schemes and policies introduced by the banking sector that have helped drive progress and could be adopted by others:
Notes to editors