Quality management initiatives in the banking industry: A meta analysis of Hong Kong and the UK

The banking industry in Hong Kong plays a significant role in the international financial arena. Because of increasingly competitive pressure from domestic and overseas banks, Hong Kong banks must improve service quality and care about customer demand. They must tightly control cost and improve the quality and efficiency of operations in order to maintain profitability. This study surveys the entire population of licensed banks in Hong Kong on their quality management initiatives. It not only analyzes the current status of quality management initiatives in Hong Kong, but also compares the results with those from UK financial institutions in 1994.