Royal Bank Of Canada (French: Banque Royale Du Canada, TSX: RY, NYSE: RY, LSE: 0QKU, SIX: RY) Is The Largest Bank In Canada. As Of The End Of 2022, It Ranked 23rd Largest Bank In The World Based On Market Capitalization.

As Of October 31, 2023, Royal Bank Of Canada's Retail Banking Business In Canada, RBC Royal Bank (French: RBC Banque Royale), Had 1,143 Branches And 4,003 ATMs Nationwide, Serving Approximately 15 Million People And Business Customers. It Ranked First Or Second In Canada In Terms Of Personal Banking Product Market Share.

History

Royal Bank Of Canada Was Founded In 1864 And Opened In Halifax. The Original Name Was Merchants' Bank. It Was Renamed And Has Been In Use Since 1901. At That Time, The Local Chinese People In Canada Called It Laolu Bank. In 1907, The Bank's Headquarters Moved To Montreal.

June 20, 2011, PNC Financial Services Group Said In A Statement On The 20th That It Has Reached An Agreement With Royal Bank Of Canada To Acquire The Latter's Retail Banking Business In The United States For $3.45 Billion. Royal Bank Of Canada (US) Is Headquartered In North Carolina And Has Assets Of Approximately $25 Billion. The Bank Has 424 Branches In Six US States. When The Transaction Is Completed, The Number Of Branches Will Reach 2,870 When Combined With PNC Financial Services Group's Existing Service Network, Making The Bank The Fifth Largest Bank In The United States.

In 2015, RBC Agreed To Sell Its Swiss Private Bank, Royal Bank Of Canada (Suisse) SA, To The Swiss Local SYZ Group. In November Of The Same Year, RBC Completed The Acquisition Of City National Bank.

On January 21, 2016, Aviva Announced The Acquisition Of RBC General Insurance Company For 582 Million Canadian Dollars.

In 2019, RBC Agreed To Sell Its Eastern Caribbean Banking Operations In Antigua, Dominica And Saint Lucia To A Consortium Of Banks In The Region.

In January 2022, Standard Chartered Acquired Royal Bank Of Canada's Royal Trust Hong Kong Limited.

On November 29, 2022, Royal Bank Of Canada Announced The Acquisition Of HSBC Bank Canada's Personal And Commercial Banking Business And Preference Shares And Outstanding Debt Issued By HSBC Canada And Held By HSBC From HSBC Holdings For Approximately US $800 Million To US $700 Million Respectively, For A Total Price Of US $11.60 Billion (approximately HK $90.20 Billion). On March 28, 2024, The Acquisition Of HSBC Bank Of Canada Was Completed.

Operating Status

The Current Royal Bank Of Canada Is Headquartered In The Center Of Marie City In Montreal, With An Operation Center In Toronto. It Has 1,400 Branches In North America And More Than 30 Countries Around The World, With More Than 12 Million Customers. Royal Bank Of Canada Also Owns RBC Capital Markets, The 12th Largest Investment Bank In The World.