Financial Sector Increases Representation of Women on Boards of Directors

For years, the proportion of women on bank boards has lagged significantly behind that of other large companies. However, the situation has improved, according to the Women Managers Barometer 2025 by the DIW economic research institute. By 2024, the top 100 banks have largely closed the gap in terms of management boards. While the proportion of women was 14% in 2022, it has now increased to 21%. However, the banks have not made similar progress in the supervisory boards. In the mid-2000s, the financial sector had more women in these positions than the top 100 companies. Due to slowing growth momentum in the banking sector, these banks were overtaken and surpassed by other companies.

The number of women heading the supervisory boards of the 100 largest banks has increased. In the fourth quarter of 2024, there were twelve women, compared to just three in 2006.

Despite the growing proportion of women in various sectors, there is still a long way to go before achieving gender parity in management bodies. “The progress is undoubtedly positive, but not overwhelmingly so,” states Katharina Wrohlich, a DIW researcher specializing in gender economics. In an EU comparison, Germany performs well. According to DIW figures, the proportion of women in the largest listed companies is above the EU average. This has been the case for supervisory boards since the early 2010s, while Germany has only caught up in terms of management boards in the past three years.

A closer look at the stock market segments in Germany reveals a more nuanced situation regarding the proportion of women. There has been little movement in the S-DAX and Tech-DAX, while the DAX 40 has experienced the most dynamic growth. However, one company still has an all-male executive board: Porsche SE.