Royal Bank of Canada began in the city of Halifax. This is the largest Canadian bank. This conclusion is based on the bank’s revenues, market capitalization and financial deposits. This institution is also among the largest banks in the world.
It has its operations in Canada and also worldwide and this makes it an international financial institution. Its branches can be found in USA, Caribbeans and in forty eight countries globally. Its client base in Canada and other parts of the world runs into millions. This bank is divided into five business department.
First there is the Canadian Banking section that provides business financial services and personal banking services to residents of Canada. It does this though ATM network, thousands of branches in Canada, contact centers and internet banking services. It serves approximately ten million Canadian clients.
The other segment is international banking. This is concerned with offering banking to more than four hundred branches in United States of America. This also includes serving customers in more than one hundred and twenty branches in the Caribbean. It also serves customers in some other forty eight countries globally.
The capital market department offers advice related to finance to government and corporates. This has to do with innovative products and global financial markets to assist the organizations in achieving growth objectives. The bank is actually recognized as being among the 15 leading international investment institutions.
The bank also offers insurance services. Canadian residents and businesses are provided with insurance services. These services include health insurance, home insurance, auto insurance, travel insurance among several others.
The last section is the wealth management department. This department enables the bank’s clients to transfer, grow and protect their wealth. This service is offered internationally and serves high net worth clients who are also affluent. The department offers trust services, estate management services and asset management services directly to its customers.
RBC has gained recognition for leading in diversity. This can be seen from the kind of people that are employed here. Many women are employed by the institution and also appointed to high positions. People considered to belong to visible minority groups are also offered employment. The disabled also get a fair consideration.
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.
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