TymeBank Secures Top Spot in Forbes’ World Best Banks Ranking for 2024

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By: Samkele Mchunu

In a remarkable achievement, TymeBank has clinched the coveted title of South Africa’s premier bank in Forbes’ prestigious World Best Banks ranking for 2024. The accolade underscores the institution’s unwavering commitment to maintaining consumer trust and fulfilling the evolving financial needs of its clientele amidst challenging economic conditions.

Forbes’ annual rankings, renowned for their comprehensive evaluation of global banking institutions, spotlight banks that excel in delivering exceptional customer experiences and demonstrating resilience in navigating turbulent economic landscapes. TymeBank’s ascent to the top echelon of South African banking reflects its dedication to these fundamental principles.

Coen Jonker, CEO and co-founder of TymeBank, expressed profound delight and gratitude at the recognition, emphasizing the institution’s steadfast mission to redefine industry standards in customer satisfaction. Jonker remarked, “We are delighted and honored to have received international recognition as the number one bank in the country. 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.”

Moreover, TymeBank has set ambitious targets for itself, aiming to secure a position among the top three retail banks in South Africa in terms of return on equity, customer numbers, and growth trajectory over the next three years. While these objectives may appear ambitious, the bank’s track record of exponential growth and innovation positions it favorably to achieve these milestones.

With a customer base exceeding nine million, TymeBank has earned distinction as one of the fastest-growing digital banks globally. Notably, it stands as the first African digital bank to achieve profitability, marking a significant milestone in the financial landscape by reaching its inaugural month of profitability in December 2023.

The methodology behind Forbes’ World Best Banks ranking involved a rigorous survey conducted in collaboration with market research firm Statista, encompassing feedback from 49,000 individuals across 33 countries. Participants were tasked with evaluating banks based on criteria such as customer service, digital experience, and the quality of financial advice, reflecting real-world experiences and perceptions.

TymeBank’s ascendancy to the summit of South Africa’s banking sector signifies a triumph of innovation, resilience, and unwavering dedication to customer-centric values. As it continues on its trajectory of growth and excellence, TymeBank sets a compelling example for the broader financial industry, illustrating the power of visionary leadership and a steadfast commitment to customer satisfaction.

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