Congratulations to the winner of the 2016 BAI Global Banking Innovation Awards for Innovation in Societal and Community Impact.
Türk Ekonomi Bankası (TEB)
TEB Women Banking
Women’s influence to the national economies is the most substantial global progression where women are the biggest and fastest-growing market in the world. Over 37% of SMEs are owned by women and 70% of these women-owned SMEs report being unbanked or underbanked, which translates to a roughly $300 billion market opportunity. In Turkey, 10% of equity of Turkish SMEs belongs to women and Turkey has the highest ratio of unemployed university-graduated women in OECD countries.
Having taken the “Consultant Bank” approach in supporting the development of SMEs for a decade, TEB is now seeking to strengthen the presence of women-owned/led SMEs via its Women Banking approach. TEB is the first and only bank in Turkey which has set up a separate department and has begun providing Women’s Banking services.