Royal Bank of Canada

Royal Bank of Canada Quick Facts

The Royal Bank of Canada was founded in 1864 in Halifax, Nova Scotia, Canada. The Royal Bank of Canada is also known as RBC. The Royal Bank of Canada operates under the RBC Financial Group name. The RBC is the largest Canadian bank. The RBC has over 60,000 employees worldwide. RBC is a registered member with the Canada Deposit Insurance Corporation and a member of the Canadian Bankers Association. Royal Bank offers various financial services and products to its customers - mortgages, loans, mutual funds, chequing and savings accounts, RRSP accounts, TFSA, etc.

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 60,000 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.

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