Abstract:
The quality of products and services is an important element in ensuring customer satisfaction
and loyalty. Financial institutions seek to ensure elements to win customers and remain in the
competition through greater customer satisfaction and loyalty. In this sense, Banco Millennium
BIM, as part of its strategic plan, launched innovative and personalized services in the
Mozambican financial system designed to meet the financial needs and expectations of
different market segments. Based on this experience, this study sought to analyze the
relationship between the perceived quality of the services and products offered by Millennium
BIM and the satisfaction and loyalty of its customers. The theories of relationship marketing
and expectations, together with the SERVQUAL model, enabled the measurement of perceived
quality, obtained through statistical data from a questionnaire, in addition to qualitative
information collected through semi-structured interviews conducted with customers and bank
managers. The results of this research highlighted a strong and direct correlation between the
quality of services provided, customer satisfaction and subsequent customer loyalty. Among
the various factors explaining the loyalty of BIM customers over the five years of the study in
Maputo province, the strategic presence of branches and ATMs in locations frequented by
customers, when compared to other banks, was the most important. In addition, the
effectiveness of BIM in resolving client demands also proved to be a determining factor. A
quality of products and services, along with customer satisfaction and loyalty, are crucial
elements for the success of a financial institution. Coordinated actions are necessary to
strengthen Millennium BIM's capability by enhancing its services, listening to its customers,
and adapting to market changes to maintain and reinforce its competitive position.
