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Royal Bank of Canada
Royal Bank of Canada

Financial services / Banking and Financial Services

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Company at a Glance

Overview

The Royal Bank of Canada (RBC) is a multinational financial services company and the largest bank in Canada. It was founded in 1864 and is headquartered in Toronto, Canada. RBC offers a range of services to individuals, businesses, and institutions, including personal and commercial banking, wealth management, insurance, investment banking, and capital markets services.
RBC has a strong presence in Canada, with over 1,200 branches and 53,000 employees across the country. It also has a significant international presence, with operations in the United States, the Caribbean, Europe, and Asia.
The company is known for its strong financial performance and has consistently been ranked as one of the safest banks in the world. It has also received numerous awards for its customer service and innovative digital banking offerings.
RBC is committed to corporate responsibility and sustainability, with initiatives focused on environmental sustainability, diversity and inclusion, and community involvement. The company also has a strong commitment to supporting the arts, culture, and sports in communities where it operates.
RBC is listed on both the Toronto Stock Exchange and the New York Stock Exchange, with a current market capitalization of over $100 billion. It is also a component of the Toronto Stock Exchange 60 Index and the Dow Jones Global Sustainability Index.

What is special about the company?

1. History and Tradition: The Royal Bank of Canada (RBC) is the largest bank in Canada by market capitalization and the country's oldest bank. It was founded in 1864 and has a long history of successful operations and customer service.
2. Global Presence: RBC has a significant global presence, with operations in over 40 countries. This includes a strong presence in the United States, where RBC is one of the 10 largest banks.
3. Diverse Business Lines: RBC has a diversified business model, offering a range of financial services including personal and business banking, wealth management, investment banking, and insurance.
4. Strong Financial Performance: RBC has consistently been one of the top-performing banks in North America, with strong financial results and a stable credit rating.
5. Innovation and Technology: RBC has embraced technology and innovation, continuously looking for ways to improve the customer experience and stay ahead of industry trends. It has invested in digital and mobile banking solutions and has partnerships with tech companies to enhance its services.
6. Commitment to Sustainability: RBC has a strong commitment to environmental, social, and governance (ESG) practices, including the reduction of carbon emissions and investing in sustainable projects.
7. Corporate Citizenship: RBC is dedicated to giving back to the communities it serves through charitable donations, volunteer work, and community development initiatives. It also has programs to support small businesses and entrepreneurs.
8. Awards and Recognition: RBC has received numerous awards and recognition for its business practices, customer service, and corporate social responsibility efforts.
9. Strong Corporate Governance: RBC has a well-established corporate governance structure and a track record of ethical behavior and responsible decision-making.
10. Employee Satisfaction: RBC has been consistently recognized as one of Canada's top employers, with a strong focus on employee satisfaction, diversity, and career development.

What the company's business model?

The Royal Bank of Canada (RBC) is a diversified financial services company that operates through its four main business segments: Personal & Commercial Banking, Wealth Management, Capital Markets, and Insurance. Its business model is focused on providing banking and financial services to individuals, businesses, and institutions both in Canada and internationally.
Personal & Commercial Banking: This segment offers banking and financial services to personal and commercial clients in Canada and the Caribbean. Services include deposit, loan, and investment products, as well as credit and debit cards, mortgages, and online banking services.
Wealth Management: This segment provides a range of wealth management services, including investment solutions, credit and debit management, and trust services. It also includes the RBC Global Asset Management division, which offers investment solutions to clients worldwide.
Capital Markets: This segment offers a wide range of products and services, including corporate and investment banking, as well as sales and trading activities in fixed income, currencies, and commodities. It also provides research, advisory, and financing services to institutional clients globally.
Insurance: RBC's insurance business provides a range of insurance products, including life, health, home, auto, and travel insurance, as well as reinsurance and creditor protection products.
RBC's business model is built on a customer-focused approach and a multi-channel distribution network that includes physical branches, digital banking, and mobile channels. The company aims to provide efficient and convenient financial services to its clients while maintaining a strong focus on risk management and financial stability.

Interesting facts about the company

1) The Royal Bank of Canada (RBC) is the largest bank in Canada and one of the largest in the world, with over 16 million clients worldwide.
2) It was established in 1864 in Halifax, Nova Scotia as the Merchants Bank of Halifax, and later became the Royal Bank of Canada in 1901.
3) The bank’s headquarters are located in Toronto, Canada.
4) RBC has over 80,000 employees worldwide and has a presence in 40 countries.
5) In 2019, RBC was ranked as the 16th largest bank in the world based on total assets.
6) The bank has a long-standing relationship with the British royal family and has been the official banker of the Canadian monarchy since 1901.
7) RBC was the first Canadian bank to establish a presence in the United States in 1910.
8) It is a leader in sustainable finance and was the first North American bank to establish a climate change strategy in 2015.
9) RBC is also known for its support of the arts and culture, sponsoring numerous events and organizations including the Toronto International Film Festival and the Vancouver Symphony Orchestra.
10) In 2019, RBC was named the Best Bank in Canada and North America by Euromoney Magazine.

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