Royal Bank of Canada RBC Royal Bank is the largest bank in Canada in view of market capitalization and assets. It is a leading financial service provider on the North American continent, offering wealth management services, commercial and personal banking, transaction processing services, insurance products, and more. RBC and its subsidiaries serve some 15 million institutional, business, personal, and public sector clients in Canada, the United States and fifty-five countries around the world. RBC Royal Bank offers everyday banking services, investment products, loans and lines of credit, and other financial services intended for individual clients. Customers of Royal Bank of Canada can choose from different savings accounts as to maximize their savings. There are four types of savings accounts to look at, including RBC Enhanced Savings and RBC High Interest eSavings. The bank also offers a variety of banking accounts to meet its clients specific or complex financial management requirements. RBC Signature No Limit Banking, for example, is featured with 2 cross border debits, 3 Interac withdrawals, and other options. Individual clients can also apply for loans, mutual funds, chequing and savings accounts, RRSP accounts, TFSA, personal loans, lines of credit, mortgages, and home equity loans. RBC offers a variety of mortgage loans, including cash back mortgages, self-employed mortgages, fixed-rate and variable-rate mortgages, and more. Clients can apply for a mortgage loan to buy their first home, refinance, or renew their mortgage. Persons who look for a credit card will find that RBC has plenty of products on offer. The bank features no annual fee credit cards, low interest rate credit cards, rewards credit cards, and other card types suited for persons with different financial requirements and backgrounds. RBC also offers investment products to its individual clients. To its business clients, RBC Royal Bank offers business financial services. They are intended for two main groups of clients, commercial entities and small businesses. Business clients who own and run small businesses can take advantage of the diverse everyday banking services offered by RBC. They can choose from savings accounts, specialty accounts, US deposit accounts, and fixed-fee and variable pricing accounts. Business clients are also offered funds in the form of loans and lines of credits, mortgages, and credit cards. Investment products intended for small business owners include RBC funds, GIGs, and group financial services, featured with convenient payroll deductions and flexibility of choice. RBC also offers financial products and services to commercial entities that have ten or more employees and annual sales of at least $1 million. Commercial banking focuses on cash management, investment products, borrowing and credit, cash processing, and other services. Business accounts offered to commercial clients include deposit accounts and specialty accounts, which are designed to meet the financial requirements of farmers, non-for-profit organizations, and professionals. Commercial clients can choose from a variety of account packages, such as interest savings, fixed fee, and pay as you go, depending on clients’ business needs. Apart from standard borrowing and credit solutions, corporate clients have access to specialized financing options. These include asset-based lending, solar panel financing, letters of credit and international trade, and more. RBC Royal Bank also offers online banking services with a range of beneficial features. Commercial clients can make tax payments and payroll payments online, access account information, and more. Individual clients are also offered online and mobile banking services. Clients can manage their accounts, pay bills electronically, and receive electronic statements. Online banking also allows clients to apply for loans and review their mortgage details. Other convenient features include the option to open additional accounts and download account information. Royal Bank of Canada History The Merchants Bank (the name was changed to Royal Bank of Canada in 1901) was founded as a private commercial bank in 1864 in Halifax, Nova Scotia. Since its establishment the Royal Bank of Canada has merged with several Canadian banks and investment banking firms. Some of the banks are Union Bank of Halifax, Quebec Bank, Union Bank of Canada and Royal Trust. Throughout its history Royal Bank of Canada has established very strong presence in the Caribbean region, offering personal and business banking. In 2001 Royal Bank of Canada acquired North Carolina’s Centura bank. This acquisition expanded RBC banking presence in the southeastern United States. The RBC services in the US are marketed under the RBC Centura brand. In 1998 the Bank of Montreal announced a plan to merge with the Royal Bank of Canada – a merger which was later blocked by the Canadian government. The Royal Bank of Canada has solid international presence, with over 1,300 offices, and 74,000 employees in offices in 30 countries. The Royal Bank of Canada headquarter is located in the heart of Toronto’s financial district, at the Royal Bank Plaza.