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Forbes’ Top Pick for South Africa’s Best Bank of 2024

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Forbes has recognized TymeBank as South Africa’s top bank in its 2024 list of the world’s best banks. This adds to their recent accolade of winning the News24 Bank of the Year award in March. Notably, both awards consider customer service in their assessment.

forbes
Forbes

According to Forbes, the rankings highlight banks that have maintained consumer trust and met their clients’ financial needs amidst the current 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.”

With over nine million customers, TymeBank is one of the fastest-growing digital banks globally and the first African digital bank to achieve profitability, reaching this milestone in December 2023. Additionally, TymeBank aims to rank among the top three retail banks in the country for return on equity, customer numbers, and growth rate within the same timeframe. Despite the ambitious target, the bank’s track record suggests it is attainable.

The Forbes List, based on a survey of 49,000 individuals in 33 countries conducted with market research firm Statista, evaluated banks based on customer service, digital service, and quality of financial advice. Participants assessed banks where they held savings accounts or were familiar with through family or friends.

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