Strategies, Opportunities and Lessons

Creating Female-Friendly Financial Services: Strategies, Opportunities and Lessons

Product Code: VR0837MR Published Date: August, 2012

TABLE OF CONTENTS 1 Executive Summary ...... 7 2 Introduction ...... 9 2.1 The Global Market ...... 9 2.2 Local Market Snapshots ...... 10 2.3 Financial Advisers and Women ...... 11 2.4 Female Entrepreneurs ...... 11 2.5 The Business Case for Targeting Financial Services at Women ...... 11 2.6 Female Business Case Snapshot ...... 13 3 Financial Education for Women ...... 15 3.1 The US ...... 16 3.2 South-East Asia ...... 16 3.3 The UK ...... 17 3.4 Europe ...... 18 3.5 Australia ...... 18 4 Strategies and Best Practices ...... 19 4.1 Case Study: The y not Credit Card – Bank of China Credit Card International ...... 19 4.2 Case Study: Massachusetts Mutual Life Insurance Co (Massmutual), the US ...... 24 5 The US ...... 27 5.1 Economy and Demographics ...... 27 5.2 Retail Personal Banking ...... 28 5.2.1 Case study: Women & Company ...... 28 5.2.2 Case study: Women‘s Financial Group ...... 32 5.3 Retail Business Banking ...... 35 5.3.1 Case study: Wells Fargo Bank ...... 38 5.3.2 Case study: Keybank ...... 40 5.3.3 Case study: PNC Bank ...... 42 5.4 Insurance ...... 44 5.4.1 Case study: Prudential Financial ...... 44 5.5 Retirement ...... 46 5.5.1 Case study: OppenheimerFunds ...... 46 6 China ...... 49 6.1 Economy and Demographics ...... 49 6.2 Case Study: Hua Xia Bank ...... 50 6.3 Case Study: JCB (Japan) ...... 52 6.4 Case Study: China Construction Bank (CCB) ...... 53 7 Singapore ...... 54 7.1 Economy and Demographics ...... 54 7.2 Case Study: United Overseas Bank (UOB) ...... 55 8 India ...... 57 8.1 Economy and Demographics ...... 57 8.2 Case Study: HDFC Bank ...... 59

8.3 Case Study: Mann Deshi Mahila Bank (MDMB) ...... 60 8.4 Case Study: Bank of Baroda ...... 61 9 Canada ...... 62 9.1 Economy and Demographics ...... 62 9.2 Case study: Royal Bank of Canada...... 63 9.3 Case Study: Bank of Montreal ...... 65 10 The UK ...... 66 10.1 Economy and Demographics ...... 66 10.2 Retail Personal Banking ...... 67 10.2.1 Products and services ...... 67 10.2.2 Supermarket banks ...... 67 10.3 Retail Business Banking ...... 68 10.4 Private Banking...... 68 10.4.1 Barclays Wealth ...... 68 10.5 Insurance ...... 69 10.5.1 Motor insurance ...... 69 10.5.2 Diamond Car Insurance ...... 69 10.5.3 Case study: Sheilas‘ Wheels ...... 70 10.5.4 The Fawcett report...... 71 10.6 Pensions ...... 72 10.6.1 Scottish Widows reports ...... 72 10.6.2 Women‘s pension expectations: Investec Bank ...... 73 10.7 Credit Cards ...... 74 10.7.1 Case study: Affinity credit card ...... 74 11 Europe ...... 75 11.1 Economy and Demographics ...... 75 11.2 Targeted Financial Provision for Women in Europe ...... 77 11.2.1 Case study: Raiffeisenbank ...... 77 11.2.2 Case study: BBVA, Spain ...... 78 11.2.3 Case study: Bred Banque Populaire Mastercard, France ...... 78 11.2.4 Case study: Alfa-Bank, Russia ...... 79 11.2.5 Case study: Bank of Aland/Tapiola Bank, Finland ...... 79 11.3 Saudi Arabia ...... 82 11.3.1 Case study: Banque Saudi Fransi ...... 84 11.4 Dubai ...... 85 11.4.1 Case study: Dubai Islamic Bank (DIB) ...... 85 11.5 Pakistan ...... 87 11.5.1 Case study: First Women Bank Ltd (FWBL) ...... 87 12 Australia and New Zealand ...... 90 12.1 Australia ...... 90 12.1.1 Economy and demographics ...... 90 12.1.2 Retail personal banking ...... 91 12.1.3 Retail business banking ...... 91

12.1.4 Case study: Westpac ...... 91 12.1.5 Case study: Mortgages for Women ...... 94 12.1.6 Insurance: 1st for Women ...... 95 12.2 New Zealand ...... 96 12.2.1 Economy and demographics ...... 96 12.2.2 Case study: Pink Insurance ...... 97

LIST OF FIGURES

Figure 1: World Population, 1950–2050 ...... 9 Figure 2: Bank of China‘s y not Credit Card ...... 20 Figure 3: Bank of China‘s Looney Tunes-Based Cards ...... 22 Figure 4: MassMutual Survivors...... 26 Figure 5: Citibank‘s Women & Co ...... 29 Figure 6: Citibank Advertising ...... 30 Figure 7: Zions Bank Web Page ...... 33 Figure 8: Zions Bank – Smart Women Smart Grant Scheme ...... 34 Figure 9: Citi‘s Small Business Guide ...... 35 Figure 10: Citi‘s Financial Education Program ...... 36 Figure 11: Wells Fargo Women‘s business services ...... 39 Figure 12: Key4Women‘s Small Business Services for Women ...... 41 Figure 13: PNC Business Guide for Women ...... 43 Figure 14: Prudential Financial ...... 45 Figure 15: Sinobeauty Credit Card ...... 51 Figure 16: Barbie Beauty Credit Card ...... 53 Figure 17: UOB Lady‘s Card ...... 55 Figure 18: HDFC EasyShop Woman‘s Advantage Debit Card ...... 60 Figure 19: Royal Bank of Canada — Women Entrepreneurs ...... 64 Figure 20: Australia Westpac Group ...... 93 Figure 21: Mortgages for Women ...... 94

LIST OF TABLES

Table 1: Female Populations of the World‘s Most Populated Countries, 2011 ...... 9 Table 2: Women Holding FTSE 100 and FTSE 250 Board Positions ...... 14 Table 4: Economic and Demographic Profile of the US ...... 27 Table 5: Economic and Demographic Profile of China ...... 50 Table 6: Economic and Demographic Profile of Singapore ...... 54 Table 7: Economic and Demographic Profile of India ...... 58 Table 8: Economic and Demographic Profile of Canada ...... 62 Table 9: Economic and Demographic Profile of the UK ...... 66 Table 10: Economic and Demographic Profile of Europe ...... 76 Table 11: Islamic Finance Assets Under Management (AUM) ...... 81 Table 12: Economic and Demographic Profile of Saudi Arabia ...... 83 Table 13: Economic and Demographic Profile of UAE ...... 86 Table 14: Economic and Demographic Profile of Pakistan ...... 89 Table 15: Economic and Demographic Profile of Australia ...... 90 Table 16: Economic and Demographic Profile of New Zealand ...... 96

1 Executive Summary

This report assesses and evaluates the global strategies, opportunities and best practices adopted to target female clients for various financial services. Although the main focus of the report is on the profitable provision of financial services, consideration has been given to the corporate social responsibility issues connected to gender and retail finance. Detailed case studies from North America, the UK, India, Pakistan, the Middle East, South-East Asia and Australia illustrate the various responses made by financial services companies to their respective female audiences. They also indicate possible courses of action for companies not yet active in the arena.

The increasing economically active female population presents huge potential for growth The women‘s market presents a huge opportunity for financial services companies. There are currently X.X billion females worldwide, and it is estimated that around XX% of women in the world, X.X billion, are economically active. In a number of societies and at all social and economic levels, women are increasingly taking key decisions on household spending, as noted by recent studies in both developed and key emerging markets. This trend is forecast to continue over the next few decades. The gender pay gap is narrowing; more women are working, and more women are expected to become the main family breadwinner by the middle of the 21st century.

The female high net worth (HNW) population is expected to be a key target segment There is a growing segment of affluent women – senior executives, board members, property owners and entrepreneurs – wielding increasing economic power. In the US, many banks target businesswomen with tailored retail business banking services. A study published in 2011 by Go4Funding indicated that one out of every XX adult women in the US is an entrepreneur. Female business owners contribute to the overall employment of XX million workers and generate between US$X trillion and US$X trillion in revenues in the US economy. In many other countries, female entrepreneurs are underserved – yet potentially profitable – client bases. Female-tailored private banking for high net worth (HNW) women, however, has not yet become a feature of this segment, although Coutts and Barclays Wealth both recognize the importance of these clients and have developed products targeting women. While there is still a large gap in providing financial products specifically developed for HNW women in emerging economies, banks in these economies are developing strategies to access this market.

A large gap in female-focused financial solutions There is substantial evidence that the female financial market is becoming increasingly populated, dynamic and affluent. However, many private and retail banks, credit card providers and insurance companies have still not actively targeted this sector, and there is a wide gap in the financial service offerings that are exclusively targeted towards women. In the developed economies, many banks are trying to capitalize on this market, including offering a wide range of retail bank services with a strong gender-based emphasis. Saving for retirement is a major concern for many women, as they are often penalized by pension providers for having to take career breaks for maternity, therefore missing pension contributions. Women in industrialized nations also live longer than their male counterparts, making adequate retirement provision a vital – if not the most important – factor in their financial plans. Women‘s retirement planning therefore represents a key market, one which some US banks and insurers address, but which remains largely untapped elsewhere. For example, 80–XX% of women will be solely responsible for their finances at some point in their lives – mainly due to divorce and because, on average, women outlive men by seven years. In the UK, for example, there is little awareness of gender issues in pension provision beyond annual studies undertaken by Scottish Widows. Similarly, in countries such as India – where until recently the financial product offering for women was limited to credit and debit cards – an increasing number of financial institutions have started to offer products such as insurance that are specifically targeted towards women.

Credit cards aimed at women are a key part of providers’ offerings in South-East Asia The status of women in the developing world is changing quickly. As China and India gear up as the global super economies of the near future, opportunities in the female-focused financial services sector will expand in line with increased income. Provision in these countries is currently weighted to microfinance for local subsistence enterprises, especially in the extensive rural regions. The opportunity for sophisticated financial product and service provision currently lies in the rapidly growing cities, where a well-documented consumer middle class is emerging. For example, women-only credit cards are offered in both India and China, and in the more economically established regions of South-East Asia, such as Singapore and Hong Kong. A new-found willingness to take on personal debt is a social development that allows credit cards to flourish. Islamic banks, particularly in the Middle East, have developed comprehensive women-only banking services in compliance with Sharia law. As a number of countries now have large Muslim populations, providing these services globally has become increasingly viable.

Education is a vital element of successful financial marketing for women Many women interviewed for the report state that women do not need different financial products from men. However, they note that they have markedly different responses to sales and marketing approaches, so it is here that the key difference in provision lies. Effective relationship marketing is vital to improving customer acquisition and retention, and to optimizing cross-selling opportunities. While recognizing that women are perceived differently in different countries and cultures, and that all individuals are different, universal principles can be established that illustrate the potential for this market. Clear, concise and personalized educational content should be offered within marketing material or advice given, which could be in the form of downloadable material, printed matter, or one-to-one discussion. This should be backed up with appropriate products and services to enable women to achieve their financial goals. The huge cultural and language-related differences between regions are key challenges in developing and marketing financial products for women in emerging countries; low literacy rates are another obstacle. In countries such as India, most financial institutions access this section of society through microfinance.

Regulations banning gender discrimination are expected to impact growth Following a complaint by a Belgium consumer group, the European Court of Justice recently passed a ruling which prohibits the discrimination of car insurance premiums based on gender. This ruling is expected to result in increased car insurance premiums for women, and could deter companies that offer motor insurance specifically for women. There is a wider threat of this rule being extended to other financial products, which has raised concern from the industry.

2 Introduction

The female market presents a huge opportunity for financial services companies. There are currently more than X billion females worldwide. In a number of societies, and at all social and economic levels, more women are taking key decisions on household spending. The gender pay gap is narrowing; more women are working, and more are predicted to become the main family breadwinner by the middle of the 21st century. This chapter provides an overall global market scenario, a country-level snapshot of the financial position of women, and selected business cases about how financial services providers are targeting women. 2.1 The Global Market In March 2012, the world‘s population was X.XX billion, of which X.XX billion were female, according to the US Census Bureau. Around XX% of females in the world are economically active, by the UN definition of the term, making an economically active global female population of around X.X billion.

Figure 1: World Population, 1950–2050

Source: US Census © VRL and Timetric

Table 1: Female Populations of the World’s Most Populated Countries, 2011

Country Total Population (Million) Females % of Females China X,XXX.X XXX.X XX.X India X,XXX.XX XXX.X XX.X The US XXX.X XXX.X XX.X Source: Central Intelligence Agency © VRL and Timetric

3 Financial Education for Women

Education is a vital element of successful financial marketing for women. The industry experts interviewed for this report stressed that females tend to research products more thoroughly than men before making a purchase, making more informed use of the information provided. The clearer, more concise and more personalized the information offered to them, the better the message is understood and the ―better‖ the product purchase. Education can be imparted through numerous marketing channels, including: Advertising Courses, seminars Face to face through an independent intermediary or directly appointed agent Forums Networking groups Printed matter and online

3.1 The US The US leads the way in providing financial education for women, both through self-help groups and financial services companies‘ marketing operations. WIFE.org is one example of a self-help group aimed at women dealing with divorce. Its plain-language explanations of financial products and services, pitched at the level of the non-specialist consumer, have attracted extensive and favorable media courage. Founded by financial adviser Ginita Wall in San Diego in 1988, WIFE.org ―has made it a mission to help women help themselves during a divorce‖. Part of this process involves tutorials about the financial solutions available for women. These include ground-level basics including ‗What is a stock?‘ and ‗Planning your retirement‘. 3.2 South-East Asia The theme of financial education for South-East Asian women was the subject for the First Women‘s Financial Education Summit in Asia, held in Hong Kong in November 2004. The purpose of the one-day conference was to promote the exchange of knowledge and ideas to expand financial education for women in Asia Pacific. It was organized under by Citigroup and Insead, and featured high-profile keynote speakers including Catherine Weir, head of Greater China for Citigroup Global Corporate and Investment Bank.

4 Strategies and Best Practices

Many companies are adopting marketing strategies that emphasize gender to position themselves in a female-friendly way. The main strategies adopted by financial institutions include: Giving a feminine look to a product Advising on retirement Insurance policies This chapter examines in detail two significantly different products positioned for different market segments, showing how in-depth market knowledge is essential to their success.

5 The US

The US leads the way in providing financial education for women, both through self-help groups and financial services companies‘ marketing operations. US banks are at the forefront of educating women about finance and setting this element within suites of products and services to create coordinated, gender-targeted offerings. 5.1 Economy and Demographics

Table 4: Economic and Demographic Profile of the US

2007 2008 2009 2010 2011 GNP per capita (US$) XX,XXX XX,XXX XX,XXX XX,XXX XX,XXX Population Total (m) XXX.X XXX.X XXX.X XXX.X XXX.X Male (% of total) XX.X XX.X XX.X XX.X XX.X Female (% of total) XX.X XX.X XX.X XX.X XX.X Life expectancy at birth (years) XX.X XX.X XX.X XX.X XX.X Male XX.X XX.X XX.X XX.X XX.X Female XX.X XX.X XX.X XX.X XX.X Labor force participation Total labor force (m) XXX.X XXX.X XXX.X XXX.X N/A Labor force, male XX.X XX.X XX.X XX.X N/A (% of total labor force) Labor force, female XX.X XX.X XX.X XX.X N/A (% of total labor force) Unemployment Total (% of labor force) X.X X.X X.X X.X N/A Female (% of female labor force) X.X X.X X.X X.X N/A Education access and attainment Net primary school enrolment rate XX.X XX.X XX.X XX.X N/A Male XX.X XX.X XX.X XX.X N/A Female XX.X XX.X XX.X XX.X N/A

Primary completion rates (% of relevant XXX.X XXX.X XXX.X XXX.X N/A age group) Male XX.X XX.X XXX.X XXX.X N/A Female XXX.X XXX.X XX.X XXX.X N/A Health Total fertility rate (births per woman) X.X X.X X.X X.X N/A

Source: VRL and Timetric analysis © VRL and Timetric

6 China

The Chinese credit card market has significant unrealized potential. Up to the first quarter of 2012, the total number of bank cards in circulation in China grew by X.X% per quarter to reach X.X billion or approximately two bank cards per person, according to the Payment Report from the People‘s Bank of China. Of this total X.X billion bank cards in circulation, the total number of credit cards was 290 million, an increase of X.X% from the end of the fourth quarter of 2011. 6.1 Economy and Demographics

Table 5: Economic and Demographic Profile of China 2007 2008 2009 2010 2011 GNP per capita (US$) X,XXX X,XXX X,XXX X,XXX X,XXX Population Total (million) X,XXX.X X,XXX.X X,XXX.X X,XXX.X X,XXX.X Male (% of total) XX.X XX.X XX.X XX.X XX.X Female (% of total) XX.X XX.X XX.X XX.X XX.X Life expectancy at birth (years) XX.X XX.X XX.X XX.X N/A Male XX.X XX.X XX.X XX.X N/A Female XX.X XX.X XX.X XX.X N/A Labor force participation Total labor force (million) XXX.X XXX.X XXX.X XXX.X N/A Labor force, male XX.X XX.X XX.X XX.X N/A (% of total labor force) Labor force, female XX.X XX.X XX.X XX.X N/A (% of total labor force) Unemployment (% of labor force) X.X X.X X.X X.X X.X Health Total fertility rate (births per woman) X.X X.X X.X X.X N/A Births attended by skilled health staff XX.X XX.X XX.X N/A N/A (% of total births) Maternal mortality ratio XX.X XX.X XX.X XX.X N/A

7 Singapore

The Singaporean credit card market is currently recording strong growth, with the total number of credit card accounts in the Credit Bureau of Singapore‘s repository increasing by X% to reach XX.XX million in 2011. This increase in new credit card accounts was fuelled by first-time credit card holders. Female consumers in Singapore are primarily motivated by the promotional aspect of the country‘s credit/debit cards, while the country‘s banks are attempting to market female-focused credit cards by offering various usage and flexibility benefits. 7.1 Economy and Demographics

Table 6: Economic and Demographic Profile of Singapore 2007 2008 2009 2010 2011 GNP per capita (US$) XX,XXX XX,XXX XX,XXX XX,XXX XX,XXX Population Total (million) X.X X.X X.X X.X X.X Male (% of total) XX.X XX.X XX.X XX.X XX.X Female (% of total) XX.X XX.X XX.X XX.X XX.X Life expectancy at birth (years) XX.X XX.X XX.X XX.X XX.X Male XX.X XX.X XX.X XX.X XX.X Female XX.X XX.X XX.X XX.X XX.X Labor force participation Total labor force (million) X.X X.X X.X X.X N/A Labor force, male XX.X XX.X XX.X XX.X N/A (% of total labor force) Labor force, female XX.X XX.X XX.X XX.X N/A (% of total labor force) Unemployment Total (% of labor force) X.X X.X X.X X.X X.X Female (% of female labor force) X.X X.X X.X N/A N/A Education access and attainment Literacy rate N/A N/A N/A N/A XX.X Progression to grade 5 (% of cohort) XX.X XX.X N/A N/A N/A Male XX.X XX.X N/A N/A N/A Female XX.X XX.X N/A N/A N/A Health Total fertility rate (births per woman) X.X X.X X.X X.X X.X

8 India

The popularity of credit cards is growing steadily in India, with the number of credit cards in circulation in the country having increased from XX.XX million in March 2010 to XX.XX million in April 2012. According to Royal Bank of India (RBI) data, credit card customers spent an average of INRX,XXX per transaction in 2009–2010, an increase over the INRX,XXX per transaction recorded in 2007–2008, indicating that banks in the country are successfully retaining high-quality customers and increasing the spending of such customers. Moreover, according to a survey conducted by MasterCard, a credit card company, in terms of basic money management, women in emerging markets such as India are ahead of men and are closing the gender gap in terms of financial literacy. 8.1 Economy and Demographics

Table 7: Economic and Demographic Profile of India

2007 2008 2009 2010 2011 GNP per capita (US$) X,XXX X,XXX X,XXX X,XXX X,XXX Population Total (million) X,XXX.X X,XXX.X X,XXX.X X,XXX.X X,XXX.X Male (% of total) XX.X XX.X XX.X XX.X XX.X Female (% of total) XX.X XX.X XX.X XX.X XX.X Life expectancy at birth (years) XX.X XX.X XX.X XX.X N/A Male XX.X XX.X XX.X XX.X N/A Female XX.X XX.X XX.X XX.X N/A Labor force participation Total labor force (million) XXX.X XXX.X XXX.X XXX.X N/A Labor force, male XX.X XX.X XX.X XX.X N/A (% of total labor force) Labor force, female XX.X XX.X XX.X XX.X N/A (% of total labor force) Unemployment Total (% of labor force) X.X XX.X XX.X XX.X X.X Education access and attainment Net primary school enrolment rate XX.X XX.X N/A N/A N/A Male XX.X XX.X N/A N/A N/A Female XX.X XX.X N/A N/A N/A

Primary completion rates (% of relevant XX.X XX.X N/A N/A N/A age group) Male XX.X XX.X N/A N/A N/A Female XX.X XX.X N/A N/A N/A Health Total fertility rate (births per woman) X.X X.X X.X X.X N/A (% of women aged 15-49)

9 Canada

Female entrepreneurs are now a self-motivated and influential economic force in society, with female entrepreneurship becoming increasingly popular in Canada in particular. According to Statistics Canada, there are approximately XXX,XXX self-employed women in Canada, accounting for about one-third of the country‘s national entrepreneur total. Moreover, government research also indicates that XX% of Canadian small and medium-sized businesses have some degree of female ownership, and XX% are majority owned by females. Finally, XX% of female business owners in Canada have more than XX years of management or ownership experience. 9.1 Economy and Demographics

Table 8: Economic and Demographic Profile of Canada 2007 2008 2009 2010 2011 GNP per capita (US$) XX,XXX XX,XXX XX,XXX XX,XXX XX,XXX Population Total (million) XX.X XX.X XX.X XX.X XX.X Male (% of total) XX.X XX.X XX.X XX.X XX.X Female (% of total) XX.X XX.X XX.X XX.X XX.X Life expectancy at birth (years) XX.X XX.X XX.X XX.X N/A Male XX.X XX.X XX.X XX.X N/A Female XX.X XX.X XX.X XX.X N/A Labor force participation Total labor force (million) XX.X XX.X XX.X XX.X XX.X Labor force, male (% of total labor force) XX.X XX.X XX.X XX.X XX.X Labor force, female (% of total labor force) XX.X XX.X XX.X XX.X XX.X Full-time workers XX,XXX,XXX XX,XXX,XXX XX,XXX,XXX XX,XXX,XXX XX,XXX,XXX Part-time workers X,XXX,XXX X,XXX,XXX X,XXX,XXX X,XXX,XXX X,XXX,XXX Unemployment Total (% of labor force) X.X X.X X.X X.X X.X Female (% of female labor X.X X.X X.X X.X X.X force) Health Total fertility rate (births per X.X X.X X.X X.X N/A woman) Source: VRL and Timetric analysis © VRL and Timetric

10 The UK

In contrast to North America, the UK retail personal banking sector is characterized by an absence of products and services targeted at women. Interestingly, although some UK banks concede that such products and services are a good idea in principle, they discern no commercial imperative to developing them. However, a number of senior women executives in the industry assert that a major opportunity is being wasted. Until the concept is put into practice, it is not possible to be precise about take-up and profitability, but many believe the business case is a compelling one. Moreover, the supermarket banks, as evidenced by M&S Money, recognize that many of their customers are women and implicitly factor this into their marketing literature. None, however, offer specifically designed women‘s financial products. 10.1 Economy and Demographics

Table 9: Economic and Demographic Profile of the UK 2007 2008 2009 2010 2011 GNP per capita (US$) XX,XXX XX,XXX XX,XXX XX,XXX XX,XXX Population Total (million) XX.X XX.X XX.X XX.X XX.X Male (% of total) XX.X XX.X XX.X XX.X XX.X Female (% of total) XX.X XX.X XX.X XX.X XX.X Life expectancy at birth (years) XX.X XX.X XX.X XX.X XX.X Male XX.X XX.X XX.X XX.X XX.X Female XX.X XX.X XX.X XX.X XX.X Labor force participation Total labor force (million) XX.X XX.X XX.X XX.X XX.X Labor force, male XX.X XX.X XX.X XX.X XX.X (% of total labor force) Labor force, female XX.X XX.X XX.X XX.X XX.X (% of total labor force) Unemployment Total (% of labor force) X.X X.X X.X X.X X.X Education access and attainment Net primary school enrolment rate XX.X XX.X XX.X N/A N/A Male XX.X XX.X XX.X N/A N/A Female XX.X XX.X XX.X N/A N/A Health Total fertility rate (births per woman) X.X X.X X.X X.X X.X Contraceptive prevalence XX.X XX.X XX.X XX.X N/A (% of women aged 15-49) Source: VRL and Timetric analysis © VRL and Timetric