Inter-American Development Bank President Luis Alberto Moreno and Deputy Chief Executive of the Royal Bank of Scotland Chris Sullivan kicked off the 2014 GBA Summit, sharing their insights on how profitable the Women’s Market can be for banks and why women’s economic inclusion is so important.

KEY POINTS

  • Banks can earn significant profits by investing in women:
    • The inclusion of women is also essential for long-term development. Banks can offer a one-stop shop to target a broad range of sectors and geographies. The financial sector serves as an engine for capital mobilization, global integration and economic inclusion. The actions of banks influence global business trends.
    • Development finance institutions have a catalytic role to play in piloting new ideas and working with commercial banks to promote financial access.
    • Although the evidence substantiating the importance of the women’s market has been incontrovertible for tens of years, we are still not making enough of a difference.
    • The GBA Summit is about making a practical difference for banks in ensuring the full financial participation of women.
    • The power of the GBA lies in its ability to give rise to new ways of thinking, bring members together, and leverage our power as a network to influence the agenda on women and finance.