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What is Royal Bank of Canada?

The premier bank in Canada
The Royal Bank of Canada or known as Banque Royale du Canada in French is the largest financial institution in Canada. It not only has its operations in Canada but has its presence in almost 50 countries worldwide. It boasts of 17 million clients and employs nearly 80 thousand worldwide. In Canada alone it services 10 million clients and nearly 1,750 branches across the country. It has its headquarters in Montreal and its primary corporate office is situated in Toronto. The company also features in the list of best global companies by the Forbes magazine. The bank is involved in various financial services including investment banking division and investment brokerage firm other than the conventional banking services offered. It is also a part of the Canadian Bankers Association which is a grouping of all the financial institutions in Canada. It is also one of the top 100 leading banks in the world. It is also one of the most recognizable brands in Canada.

History about the bank
It has its origins in Halifax in the province of Nova Scotia in the year 1864. Its initial name was Merchants bank. It was then changed to Merchants' Bank of Halifax after five years since its inception. It expanded to other provinces New Brunswick and Prince Edward Island in the late 1880ís and 1890ís. It assumed its present name of Royal Bank of Canada at the turn of the nineteenth century. It grew in size with mergers with other banks over the years. The bank concentrated in the Caribbean for the better part of the 19th century before withdrawing from the region in 1980ís. In recent times it has tried to regain lost ground. The Royal Bank of Canada also has a substantial presence in the southeastern part of United States and is actively involved with the retail industry. The bank has also tried to enter emerging markets like China and India. It has recently opened its branches in India and is strengthening its operations in china.

Services offered by the bank
The Royal Bank of Canada offers a variety of financial services to its customers. Some of these services include personal and commercial banking, wealth management services, investment banking, global transactions, insurance sector and also corporate banking. The bank is in a strong position in the Canadian banking sector and has a strong presence in wealth management and insurance sectors. The bank handles services capital markets and also provides international banking to companies that operate out of Canada. The Royal Bank of Canada also lays special emphasis in helping marginalized sectors of the population like aboriginal initiatives through its Small Business and Commercial Financial Services arm. It also works towards women empowerment by involving itself in many such projects. It has special schemes to benefit small entrepreneurs and businessmen. The bank is also involved in novel initiatives like e-learning and is in the forefront of such philanthropic activities. Royal Bank of Canada is the undisputed leader of the banking sector and touches and brightens lives of millions of Canadians.

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