{"id":762965,"date":"2024-03-28T17:00:00","date_gmt":"2024-03-28T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=762965"},"modified":"2024-03-28T15:49:42","modified_gmt":"2024-03-28T13:49:42","slug":"these-are-the-best-private-banks-for-ultra-rich-south-africans","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/762965\/these-are-the-best-private-banks-for-ultra-rich-south-africans\/","title":{"rendered":"These are the best private banks for ultra-rich South Africans"},"content":{"rendered":"\n

UK-based Finance and business magazine Euromoney <\/a>has named the winners of its Private Banking Awards for 2024, with RMB Private Bank and Standard Bank Wealth and Investment receiving most of the awards in South Africa. <\/p>\n\n\n\n

RMB Private Bank was named South Africa’s Best Private Bank for Ultra-High-Net-Worth (UHNW) Individuals for the second year in a row. <\/p>\n\n\n\n

Euromoney praised the Firstrand subsidiary for its service quality. The group has also started providing advisory services to mid-mark business owners and introduced its first self-issued and distributed structured products. <\/p>\n\n\n\n

“This matters because about 50% of the bank’s UHNW clients are self-employed entrepreneurs, which opens up the opportunity for the private-wealth and commercial-banking businesses to work together in serving these business owners,” Euromoney said. <\/p>\n\n\n\n

RMB Private Bank was also crowned the winner of the new categories of South Africa’s Best Private Bank for Discretionary Portfolio Management, Succession Planning and Sustainability. <\/p>\n\n\n\n

RMB said its accomplishments are partially due to its ability to leverage big data, modern technologies, and advisory skills. <\/p>\n\n\n\n

Standard Bank Wealth and Investment scored three accolades – Best Domestic Private Bank, Best for Family-office Services and Best for Next-Gen. <\/p>\n\n\n\n

The Next-Gen award looks at the next generation of clients, with Africa’s largest bank praised for its SBG, Shyft and My360 mobile apps. <\/p>\n\n\n\n

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Standard Bank doubles down on face-to-face in South Africa<\/a><\/blockquote>