After the successful IPO (of state-owned commercial banks) and the entry of foreign banks, service quality is key to banks’ competence in China. In other words, the bank that provides the best service has the most competence. From Caijing.com.cn:
“We identified 130 problems in 15 categories, involving more than 200 types of transactions, as part of a comprehensive survey aimed at improving our bank’s services,” said Yang Kaisheng, the president of Industrial and Commercial Bank of China (ICBC) , as he handed a bundle of documents to Caijing reporters.
ICBC is the nation’s largest lender in terms of assets and branch network, but weak customer service has made it a target of increasing public criticism. After the successful IPO (of state-owned commercial banks) and the entry of foreign banks, service quality is key to banks’ competence in China. In other words, the bank that provides the best service has the most competence.
After leading a high-profile and two-week-long survey of bank branches in May, Yang discovered that the complaints about service were not insignificant. “If banks don’t solve some problems in operating strategies, business structure, risk control and work-flow design, that will cause a shortage of financial services,” he said. [Full Text]
See details on State-owned commercial bank going IPOs, click here .
