Progress Toward Gender Equality in the National Bank of Serbia

Gender equality in financial institutions remains a significant topic as central banking globally continues to be dominated by men. However, the National Bank of Serbia, under Governor Jorgovanka Tabaković’s leadership, stands out as a noteworthy exception and a model of progress in the sector.

Governor Tabaković highlights that, unlike many counterparts, the National Bank of Serbia has achieved a majority representation of women without relying on gender quotas. As of 2025, women represent over 57% of the Bank’s workforce, and they hold 60% of the Executive Board positions, including the Governorship and Vice-Governorships. The increase in the proportion of women in management—from 51% in 2013 to nearly 59%—has been attributed to equal opportunities and merit-based advancements rather than preferential treatment. This inclusive environment also offers flexible work arrangements and values ideas and contributions regardless of gender, further supporting women’s career development and work-life balance.

Reflecting on over a decade at the Bank’s helm, Tabaković asserts that regulatory frameworks now generally support gender equality, but real progress depends on both institutions and individuals seizing opportunities. She emphasizes that gender is just one aspect of diversity and that the best outcomes come from harnessing all available talent. Tabaković concludes that lasting change is born from mutual respect, equal opportunity, and leadership by example, rather than by mandates alone.

The experience of the National Bank of Serbia underscores the importance and benefits of genuine gender balance in leadership, signaling to the wider financial world that true progress is achieved through inclusivity, merit, and respect for all.