eric parrado: gender differences in the chilean banking system
TRANSCRIPT
Cuenta Pública SBIF 2015: Balan ce y Desafíos !
Gender Differences in the Chilean Banking System: #BeBoldForChange
Eric Parrado H. (@eric_parrado)Superintendent of Banks and Financial Institutions, Chile
OECD Conference on Business Finance and GenderParis, March 8, 2016
International Context
Global Gender Gap Index 2016 (Groups of countries)
Average
Low Income Lower Middle Income
The boxes show the percentiles 25 and 75 of distribution and lines of minimums and maximums.
Chile ranks 70 out of 144 countries of the Global
Gender Gap Index.(World Economic Forum).
Upper Middle Income
High IncomeChile0,5
0,6
0,7
0,8
0,9
1,0
The economic dimension is the weakest
Chile’s worst perfomance in the Index is“Economic Participation”
Education
38
Health
39
Political empowerment
39
Economic participation
Position (nº) in the World
Ranking
• Wage equality for similar work
• Estimated earned income
• Labor force participation
133
97
92
119
What can we do as an organization to foster conscious bias in favor of women?
• Apply this bias within the organization, without affecting meritocracy
• Incorporate in the institutional information system a gender approach:
Gender gap in access to financial services
Gender gap in financial labor markets
What are we trying to do?
• Chile is commited to women’s data:
• Chile is the only country in the world that has consistently tracked sex-disaggregated data on its banking system for over 15 years.
Issues covered in the report
Loans Consumer Mortgage Commercial
Savings On sight deposits Time deposits
Cash management
Use of debit products
Integrity Bounced checks Nonperforming loans
Gender Gap: Loans
Numbers of debtors
• Average debt: For every US$ 100 owed by men, women owe US$ 59.
• Consumption: For every US$ 100 owed by men, women owe US$ 53.
US$ 59DEBT
US$ 53
• Mortgages: For every 100 monetary units, the amount assigned to mortgage funding is: 57 men, 61 women.
womenmen
2002
2014
2015
36%
47%
48%
64%
53%
52%
0
10
20
30
40
50
60
5761
CONSUMPTION
2% 0%
-17% -25%
-20%
-15%
-10%
-5%
0%
5%
10%
Rate gap Term gap Amount gap
Gender Gap: Loans
Terms of credit related to mortgage loans
July 20012 / December 2013
Gender Gap: Loans
Terms of credit related to consumption loans
15%
-2%
-32% -40%
-30%
-20%
-10%
0%
10%
20%
Rate gap Term gap Amount gap
Gender gap: Loans
Terms of credit related to commercial loans
17% 28%
-41% -50%
-30%
-10%
10%
30%
50%
Rate gap Term gap Amount gap
Gender gap: Savings
Number of accounts by gender, 2002-2015
women men
46,4%
48,7%
56,2%
67,7%
53,6%
51,3%
43,8%
32,3%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2002
2015
Voluntary pension savings accounts
Housing savings accounts
Term savings accounts
Time deposits
Voluntary pension savings accounts
Housing savings accounts
Term savings accounts
Time deposits
69,0%37,7%42,8%46,2%
31,0%62,3%57,2%53,8%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Gender Gap: Cash Management
Number of Cash management accounts
(Checking accounts and sight deposits), 2002-2015
2015
200238%62%
52%48%
Gender Gap: Cash Management
Average deposit balance in cash management accounts (US$ dollars*)
Women hold 26% less than men
Women hold 31% less than men
womenmen
1.150
2.415
1.553
0,0
0,5
1,0
1,5
2,0
2,5
3,0
3,5
20152002
3.475
* Currency at the end of December of each year
Gender gap: Financial Integrity
Bounced checks for every 1.000 checks presented for payment
Non-performing loans, 90 days -1 year (Amount of non performing loans as % of total amount of debt)
womenmen0
3
6
9
12
15
20152014
12,6 12,510,7 10,8
womenmen0
3
6
9
12
15
20152014
12,6 12,510,7 10,8
womenmen
1,0
1,5
2,0
20152014201320122011201020092008
1,75
1,63
1,371,30
1,101,08
Lessons
1. Seek internal buy in, particularly from the top.
2. Balance information needs and opportunity costs.
3. Data is not an end in itself. Think about next steps.
4. Apply a conscious bias in favor of women at all levels:
Within organizations. Finding the gender dimension in their actions and products.
> The SBIF promotes gender equality using data and internal policies and practices.