Royal Bank of Canada was founded in Halifax. It is Canada’s the largest financial institution. This is based on its financial deposits, revenues and market capitalization. It is also considered to be among the world’s largest banks.
It is an international bank. This means that it operates in Canada and other parts of the globe. The bank has branches in United States of America, the Caribbeans and 48 other countries worldwide. This bank has millions of clients in Canada and all over the world. There are 5 business segments in the bank.
First there is the Canadian Banking segment that offers business financial services plus personal banking services to Canadian residents. This service is offered via its many branches in all parts of Canada. It also makes use of ATM network, contact centers and internet banking. This enables it to reach approximately ten million customers in Canada.
The second is international banking section which consists of financial services in United States where there are more than four hundred branches. The bank also has many clients in countries of the Caribbean where there are more than one hundred and twenty branches. It operates also in forty eight other countries internationally.
It provides financial advice to corporates and government through its capital market segment. This advice is about the world’s financial markets and innovative products to help these organizations achieve their growth objective. In fact the bank is recognized as one of the world’s top 15 global investment banks.
The institution also specializes in insurance. It enables individuals and businesses in Canada to access insurance. Insurance services include health insurance, travel, home and auto insurance among many others.
The last is wealth management segment. This section assists the clients of the bank to protect, transfer and grow their wealth. It caters for affluent customers internationally whose net worth is high. The department also offers asset management, trust services and estate management services directly to the clients.
Royal bank of Canada has also been recognized as a leader in diversity. This can be seen by looking at the composition of the workforce. This institution employs many women and also appoints them to senior positions. It also employs people regarded to be in the visible minority group. People with disabilities are also fairly considered.
Royal Bank of Canada is recognized not only for banking services but for corporate social responsibility too. It gives donations to works of charity all over the world. It sponsors athletics and sports both internationally and locally. Different programs regarding environmental preservation have also been initiated by this bank.
BMO is one of the top Canadian financial institutions. Learn interesting facts about Royal Bank of Canada and other Canadian Banks at Canadian Banking Guide.