Q COSTARICA — In recent years, Costa Rica’s national banking system has made decisions focused on achieving gender equality, not only through its financial products for female clients, but also internally, reflecting greater female participation in finance and decision-making.
Thanks to its progress, the financial system is gradually becoming an example of gender equality.
Currently, 54% of all bank employees are women, compared to just 48% in 2015.
This percentage not only reflects significant progress in recent years but also far exceeds female participation across all sectors of the country, which, according to INEC (Costa Rica statistics) data, has remained at just 39% since 2018, according to the IV Report on the Gender Gap in Access to and Use of Financial Products and Services 2026.
In other words, women’s participation in the national banking sector is 15 percentage points above the national average, and it is also one of the areas where men are not in the majority.
Women dominate banking
The study reflects a significant increase in female leadership, and although a gap persists, the trend points toward greater equity in decision-making, representing progress toward substantive equality and breaking the glass ceiling.
Indeed, when considering banking leadership positions (46%) and managerial positions (47%), it is clear that gender equity is just a few steps away.
“The data shows that Costa Rican banks have made significant progress in incorporating and developing female talent. Today, we not only observe greater participation of women within organizations, but also sustained growth in leadership and management positions, which demonstrates greater opportunities for professional development and access to decision-making spaces,” said Daniela Gutiérrez, an economist at the Asociación Bancaria Costarricense (ABC) — Costa Rican Banking Association.
Where a significant gender gap does exist is when considering positions on boards of directors. In this case, women hold only 24% of the positions, according to the report.
To continue making progress, policies are needed to strengthen equality in leadership positions, such as promoting mentorship and sponsorship programs that support women’s professional development, offering ongoing training in inclusive leadership and a gender perspective, and establishing work-life balance measures that facilitate retention in strategic roles.
These and other actions are precisely what BAC is developing to promote female leadership within the organization.
“BAC has a Corporate Diversity and Inclusion Policy, as well as a specific Gender Equality guideline, whose purpose is to promote the economic integration and empowerment of women by generating inclusive opportunities that tangibly contribute to reducing gender gaps, both within and outside the organization,” said Laura Moreno, Vice President of Corporate Relations at BAC.
And ultimately, diversity in management teams is not just an ethical imperative, according to Sujeyny Gamboa, Head of Corporate Relations at Coopecaja.
“Evidence shows that it improves the quality of decisions, broadens market understanding, and strengthens the sustainability of organizations. Our female participation rates support our efforts focused on gender parity,” she concluded.
Maritza Fuentes, Director of Human Resources at the Banco Nacional, said the State bank has been implementing affirmative action measures for gender equity and equality for several years. Currently, the Bank’s Management Team, the highest administrative level for decision-making, is composed of four women, including the General Manager. Furthermore, a woman was recently appointed to the top executive position at one of its subsidiaries.
Jessica Borbón, Director of Corporate Relations at the Banco Popular said the Popular has promoted training initiatives, business support, and financial education, including specialized programs for women, where the bank believes that greater economic autonomy requires not only access to financial products, but also knowledge and tools to make informed decisions throughout life.