Royal Bank of Canada

This article is about the Canadian multinational commercial bank. For the brand name the bank operates under in the United States, see RBC Bank. For the Canadian central bank, see Bank of Canada.
Not to be confused with Royal Trust (Canada) or Royal Canadian Bank.
Royal Bank of Canada
Company typePublic
ISINCA7800871021
IndustryFinancial services
Founded1864; 160 years ago (1864)[1] in Halifax, Nova Scotia
HeadquartersMontreal, Quebec, Canada
Toronto, Ontario, Canada[2][note 1]
Key people
David I. McKay (President and CEO)[4]
Services
RevenueIncrease CA$56.13 billion (2023)[5]
Decrease CA$14.87 billion (2023)[5]
AUMIncrease CA$1.07 trillion (2023)[5]
Total assetsIncrease CA$2.0 trillion (2023)[5]
Total equityIncrease CA$117.76 billion (2023)[5]
Number of employees
94,000 (2023)[5]
Subsidiaries
Brewin Dolphin
Websiterbc.com Edit this at Wikidata

Royal Bank of Canada (RBC; French: Banque Royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 20 million clients and has more than 100,000 employees worldwide.[2] Founded in 1864 in Halifax, Nova Scotia, it maintains its corporate headquarters in Toronto and its head office in Montreal.[2] RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.

In Canada, the bank's personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale in French and serves approximately 11 million clients through its network of 1,284 branches. RBC Bank is a US banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States,[6] but now only offers cross-border banking services to Canadian travellers and expats. RBC's other Los Angeles-based US subsidiary City National Bank operates 79 branches across 11 US states.[7] RBC also has 127 branches across seventeen countries in the Caribbean, which serve more than 16 million clients.[8] RBC Capital Markets is RBC's worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are also provided through RBC Bank and the focus is on middle market clients.

In 2011, RBC was the largest Canadian company by revenue and market capitalization.[9] In 2023, the company was ranked 38th in the Forbes Global 2000.[10] The company has operations in Canada and 36 other countries,[11] and had CA$1.01 trillion of assets under management in 2021.[5][12]

  1. ^ McDowall 1993, pp. 22–23.
  2. ^ a b c d "Royal Bank of Canada: Annual Report 2015" (PDF). Royal Bank of Canada. October 31, 2008. Retrieved August 5, 2014.
  3. ^ Yusufali, Sasha (August 4, 2015). "Royal Bank of Canada". The Canadian Encyclopedia. Retrieved August 19, 2017.
  4. ^ "Our Leadership". RBC. Retrieved January 12, 2022.
  5. ^ a b c d e f g "2023 Annual Report" (PDF). Investor Relations. Royal Bank of Canada. Retrieved December 10, 2023.
  6. ^ "About RBC Bank: Company Profile". Royal Bank of Canada. Retrieved February 19, 2011.
  7. ^ "City National Bank locations". City National Bank. Retrieved May 15, 2022.
  8. ^ "Royal Bank of Canada: Annual Report 2008" (PDF). RBC. October 31, 2008. Retrieved August 5, 2014.
  9. ^ "Canada's 100 biggest companies by market cap". The Globe and Mail. Toronto: theglobeandmail.com. June 23, 2011. Retrieved August 5, 2014.
  10. ^ "The Global 2000 2023". Forbes. Archived from the original on 2024-01-29. Retrieved 2024-02-07.
  11. ^ "Corporate Profile" (PDF). RBC. Retrieved August 29, 2020.
  12. ^ "Global Private Banking Benchmark 2014 | Scorpio Report". Scorpiopartnership.com. July 17, 2014. Archived from the original on October 18, 2015. Retrieved December 27, 2015.


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