Europe's biggest banks are approaching gender parity on their boards, with an average proportion of 40 per cent women in 2017.
But some countries are lagging behind. Just 9 per cent of board members at Germany's largest banks are women, according to executive search firm DHR International.
In contrast, the average proportion of female board members at French banks rose from 29 per cent in 2016 to 34 per cent in 2017. The UK slipped from 29 per cent to 28 per cent.
Globally, women make up 23 per cent of board members at the world's largest banks.
But investment banks lagged behind the average this year, with just 17 per cent female board members.
Ramona Kühnel-Linnemann, Partner at DHR International said this is because "women find it easier to progress within retail or commercial banking - investment banks have had a reputation of being an ‘old boys club.’”