Jakarta, 9 April 2025 - For the fourth time since beginning operations, PT Bank Jago Tbk has been named one of the world’s best banks by leading business magazine Forbes. Bank Jago also ranks as the highest-rated tech-based bank and is listed among the top five best banks in Indonesia.
In collaboration with global research firm Statista, Forbes compiled the World’s Best Banks 2025rankings based on a survey of over 50,000 respondents across 34 countries. The online survey, conducted in 17 different languages, evaluated bank performance across five key aspects: trust, terms and conditions (such as fees and interest rates), customer service (including wait times and staff friendliness), ease of use of digital services, and the quality of financial advice.
Forbes emphasized that trust is the most crucial aspect of banking, regardless of time or location—especially in today’s challenging economic climate following the U.S. reciprocal rate policy. This situation has made people more focused than ever on choosing banks that are trustworthy and capable of meeting their needs.
The trust metric includes assessments of a bank’s financial stability, concern for customer needs, and data security. Meanwhile, overall service satisfaction measures how content customers are and how likely they are to recommend the bank to family or friends. Service quality is judged by responsiveness, wait times, and staff friendliness.
The terms and conditions category emphasizes fee transparency, loan interest rates, and availability of free ATMs. Digital service quality covers the ease of use of the website and mobile app. Lastly, the quality of financial advice is evaluated based on advisor expertise and how clearly recommendations are communicated.
Out of 385 banks evaluated, Bank Jago was among the 265 institutions recognized for consistently delivering exceptional performance, earning a spot once again on this year’s list of the world’s best banks.
As a tech-based bank with an aspiration to enhance the growth of millions through life-focused digital financial solutions, Bank Jago delivers customizable and personalized products and services through the Jago App, tailored to each customer’s life needs.
“We believe financial institutions that can strike a balance between leveraging technology, maintaining strong financial fundamentals, and implementing sound risk management will have greater sustainability in serving their customers,” said Tjit Siat Fun, Compliance Director and Corporate Secretary of Bank Jago.
Bank Jago’s consistent presence on the best banks list for four consecutive years reflects its strong commitment to continuous innovation and collaboration within the digital ecosystem to meet customer needs.
“Bank Jago’s return to the world’s best banks list signals strong recognition for tech-based banks. Specifically for Bank Jago, this affirmation is an appreciation of our business model, which prioritizes innovation and collaboration within the digital ecosystem,” added Tjit Siat Fun.
Throughout 2024, Bank Jago recorded a net profit after tax of IDR 129 billion, a 78% increase from the previous year’s IDR 72 billion. This positive performance was supported by the bank’s 15.3 million customers, including 12.1 million funding customers using the Jago App—nearly a 50% increase from 8.1 million at the end of 2023.
The growth in Jago App users positively impacted customer deposits, which reached IDR 18.8 trillion, up 56% from IDR 12.1 trillion in 2023. The majority of Third-Party Funds (DPK) came from current and savings accounts (CASA) at IDR 10 trillion, with the remaining IDR 8.8 trillion from time deposits.
On the lending side, Bank Jago recorded significant growth, with total loans reaching IDR 17.7 trillion—up 36% from IDR 13 trillion in 2023. The bank maintained high loan quality with a low Non-Performing Loan (NPL) ratio of just 0.2%. This loan growth pushed Bank Jago’s total assets to IDR 28.5 trillion, up 34% from IDR 21.3 trillion the previous year, with a capital adequacy ratio (CAR) of 44.4%.
