Banks in Asia build for the future
Lenders are focusing on women in mid-career to avoid brain drain and ensure a pipeline of candidates for leadership.
The name name of Mongolia’s largest commercial lender, Khan Bank, literally means King Bank. But in financial circles here, bankers joke it should be renamed Queen Bank in recognition of its focus on diversity.
Khan Bank is one of the country’s biggest employers. About 66% of its total staff are women, while 45% of senior managers and about half of the vice-president or equivalent roles are women. In its latest graduate intake, 67% of new hires were women.
Banks are a good place to work, they are safe, they are better employers, and friendly for women
Ganbyamba Shoovdor, vice president of human resources at Khan Bank, says there is a simple explanation for why the lender – and other banks in Mongolia – employ a large number of women.
“The banking sector in Mongolia is attractive for women because it’s a service sector,” she tells Asiamoney. “Banks are a good place to work, they are safe, they are better employers, and friendly for women because they offer a lot of growth and learning opportunities.”
The legal framework also helps.