Royal Bank of Canada

Royal Bank of Canada
Company typePublic
ISINCA7800871021
IndustryFinancial services
Founded1864 (1864) in Halifax, Nova Scotia
HeadquartersMontreal, Quebec, Canada
Toronto, Ontario, Canada
Key people
David I. McKay (president and CEO)
Services
Revenue CA$57.34 billion (2024)
CA$16.24 billion (2024)
AUM CA$1.342 trillion (2024)
Total assets CA$2.172 trillion (2024)
Total equity CA$127.09 billion (2024)
Number of employees
94,838 (2024)
SubsidiariesBrewin Dolphin
Websiterbc.com

Royal Bank of Canada (RBC; French: Banque Royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 20 million clients and has more than 100,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains its corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.

In Canada, the bank's personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale in French and serves approximately 11 million clients through its network of 1,284 branches. RBC Bank is a US banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States, but now only offers cross-border banking services to Canadian travellers and expats. RBC's other Los Angeles-based US subsidiary City National Bank operates 79 branches across 11 US states. RBC also has 127 branches across seventeen countries in the Caribbean, which serve more than 16 million clients. RBC Capital Markets is RBC's worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are also provided through RBC Bank and the focus is on middle market clients. The company expanded further in 2024 when RBC acquired HSBC's Canadian operations.

In 2011, RBC was the largest Canadian company by revenue and market capitalization. In 2023, the company was ranked 38th in the Forbes Global 2000. The company has operations in Canada and 36 other countries, and had CA$1.01 trillion of assets under management in 2021.