Business ProfileRoyal
Bank of Canada (RBC) is a regulated financial institution headquartered in Montreal, Canada, founded in 1864. As Canada's largest bank, RBC has an extensive network in North America and more than 30 countries around the world. As of 2023, RBC has 1,250 branches and 4,100 ATMs across Canada, serving more than 15 million personal and business customers. RBC is also the world's 12th largest investment bank, RBC Capital Markets.
Worldwide
, RBC operates in 29 countries and territories, mainly in 10 countries and regions in Canada, the United States and the Caribbean.
Number of offline outlets:
Canada: 1,284 branches, serving approximately 11 million customers.
Caribbean: 127 branches, serving more than 16 million customers.
United States: Through City National Bank, it operates 79 branches in 11 states in the United States, mainly serving high-end customers.
ATM distribution: RBC has an extensive network of ATMs in Canada, and customers can use RBC ATMs or other ATMs with the Interac logo nationwide. In addition, RBC has partnered with the Allpoint ATM network to enable customers to withdraw money for free at Allpoint ATMs in the U.S. through RBC's ATM Locator Lookup (RBC ATM Locator)
Regulatory & Compliance
Regulator:
Canada: RBC is primarily regulated by the OSFI, Canada's body responsible for overseeing federally chartered financial institutions to ensure that their capital adequacy ratios, liquidity coverage ratios, and risk management are compliant.
United States: RBC's U.S. operations, such as City National Bank, are regulated by the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
Other countries: RBC's operations in places such as the Caribbean and Europe are regulated by local financial regulators, such as the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom.
International standards: RBC, as a global systemically important bank (G-SIBs), is required to comply with Basel III requirements, including capital adequacy and liquidity coverage ratio standards.
Recent Compliance Record:
As a large global bank, RBC is regularly audited and checked for compliance by regulators. According to the Q3 2024 report, its capital adequacy ratio (CET1) is 13.0%, which is in line with regulatory requirements, but specific recent compliance records (such as fines or regulatory inspection results) are not disclosed in detail in public information, and it is recommended to refer to the latest annual report (RBC annual report) or the OSFI website.
financial health
(2024 data):
capital adequacy ratio: core Tier 1 capital adequacy ratio (CET1) was 13.0% as of Q3 2024 , which is above the minimum regulatory requirements and indicates a sound capital base.
Non-performing loan ratio: 0.8%, good asset quality and strong risk control ability.
Liquidity Coverage Ratio: Not directly disclosed, but RBC has cash and cash equivalents of C$740.68 billion, total deposits of C$1.44 trillion and a loan-to-deposit ratio of 70%, which is regulatory compliant and liquid.
Analysis: RBC is in a strong financial position with revenue of C$561.3 billion, profit of C$14.9 billion and total assets of C$2 trillion in 2023, with a cost-to-income ratio that shows high operational efficiency.
products
and servicesRBC offers a comprehensive range of financial services and products covering the following key areas:
personal banking: including savings accounts, Loans, credit cards, mortgages, etc.
Commercial Bank: Provide corporate loans, trade finance, cash management and other services for small and medium-sized enterprises and large enterprises.
Wealth Management: Provide investment products and services, including funds, stocks, bonds, etc., to serve high-net-worth clients.
Corporate and investment banking: including M&A advisory, capital markets services and structured finance.
Insurance: Life, health, and property insurance is available through RBC Insurance.
Trust and asset management: including trust services and asset management services, serving institutional clients.
Digital Service Experience
APP & Online BankingUser Rating:
iOS User Rating: 3.5 stars (based on 10,500 ratings, App Store）。
Android User Rating: 3.8 stars (based on 12,345 ratings, Google Play)
Core features:
RBC Mobile Banking App: Support to check account balance, transfer and payment, bill management, check deposit, ATM locator and more.
Online Banking: Offers similar features, including account management, transfers, investment tools, and more.
Technology innovation: RBC uses AI and machine learning to improve customer service and fraud detection, provides NOMI digital assistants to help customers with banking operations, and supports open banking APIs that allow third-party applications to access banking data.
customer serviceCustomer
service channels:
phone support: RBC provides 24/7 phone support, Individual customers can call 1-800-769-2555 and corporate customers can call 1-800-769-2520.
Live chat: Live chat support is available through the RBC website or mobile app.
Branches: Customers can visit RBC's 1,284 Canadian locations or other locations around the world for face-to-face service.
Security
MeasuresRBC uses advanced security protocols to protect customer information and transactions, including:
Two-factor authentication (2FA): Accounts are protected via SMS OTP or digital tokens.
Encryption: Uses advanced encryption to protect data transmissions.
Fraud Monitoring: A 24-hour fraud hotline (+1-800-769-2555) where customers can report suspicious transactions at any time.
Biometric login: Fingerprint and facial recognition login are supported.
Featured Services & Differentiation
International Services: RBC offers cross-border banking services to customers around the world, including multi-currency accounts and international transfers, especially for Canadian snowbirds and overseas customers.
Wealth Management: Provide a full range of wealth management services, including private banking, investment advisory and insurance, to serve high-net-worth clients.
Community Initiatives: RBC is committed to supporting community development and making a positive social, environmental and economic impact through strategic initiatives, such as programs that support education and sustainable development.
Digital innovation: RBC continues to innovate in the digital banking space, including AI customer service, robo-advisors and open banking API support.
summaryRBC (Royal Bank) is Canada's largest commercial bank and one of the world's leading financial institutions. RBC's strong financial position, breadth of services and digital innovation make it competitive in the global financial markets for clients seeking international financial services.
