TymeBank takes the podium as top bank in 2024 Forbes list of banks

TymeBank shopping Foschini Group TFG payment

TymeBank has been earmarked to be one of South Africa’s well-performing banks according to the Forbes list of the world’s best banks for 2024.

The Forbes List was based on a survey of 49,000 individuals in 33 countries, conducted in partnership with market research firm Statista.

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Participants were asked to evaluate banks where they have had a savings account in the last three years or a bank they know through family or friends.

Categories included customer service (wait times and helpfulness of employees), digital service (ease of using the website and app), and quality of financial advice.

According to Forbes, the annual rankings identify banks that have managed to maintain consumer trust and meet their client’s financial needs in this economic climate.”

Commenting on the latest accolade, TymeBank CEO and co-founder Coen Jonker said: “We are delighted and honoured to have received both local and international recognition as the number one bank in the country within such a short space of time.

“Our goal is to lead the industry in terms of customer satisfaction within the next three years and this latest vote of confidence from our customers puts that goal firmly within our reach.”

TymeBank has also set its sights on becoming one of the country’s top three retail banks when it comes to return on equity, customer numbers, and pace of growth within the same period.

While the target may seem ambitious, the bank’s growth record indicates it is one that is achievable. With more than nine million customers, TymeBank is already recognized as one of the fastest growing digital banks globally, and the first African digital bank to break even, having reached its first month of profitability in December 2023.

Also read: How local companies can adapt to global field service standards

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