- Business
- Royal Bank of Canada (TSX: RY; NYSE: RY) operates as a diversified multinational financial services company and ranks as Canada's largest bank by market capitalization; it provides personal and commercial banking, wealth management, capital markets, and insurance products and services to over 18 million clients worldwide through more than 1,200 branches and digital platforms. Personal and Commercial Banking offers checking and savings accounts, credit cards, mortgages, personal loans, home equity financing, small business lending, commercial banking, and corporate banking solutions primarily in Canada, the U.S., and the Caribbean under brands including RBC Royal Bank, RBC Bank, RBC Royal Bank Caribbean, RBC InvestEase, and RBC Direct Investing; Wealth Management delivers investment advisory, trust services, asset management, investor services, and credit solutions to affluent, high-net-worth, and institutional clients via RBC Dominion Securities, RBC Wealth Management, RBC Phillips, Hager & North Investment Counsel, RBC Global Asset Management, and RBC Investor Services; Capital Markets supplies corporate and investment banking, equity and debt origination, structuring, trading, fixed income, currencies, and global markets services to public and private companies, governments, central banks, and institutional investors through RBC Capital Markets; Insurance provides life, health, travel, home, auto, annuities, property and casualty, reinsurance, creditor, and business insurance to individuals, businesses, and groups. Founded in 1864 in Halifax, Nova Scotia, the bank maintains corporate headquarters in Toronto at Royal Bank Plaza and head office in Montreal at Place Ville-Marie; it employs over 98,000 people and conducts operations in Canada, the U.S., the U.K., 17 Caribbean countries and territories, and select regions in Europe, Asia, and Latin America. In March 2024, Royal Bank of Canada completed its C$13.5 billion acquisition of HSBC Bank Canada, the largest bank acquisition in Canadian history, adding 780,000 clients, 4,500 employees, and strengthened commercial banking and wealth management capabilities while committing C$7 billion to affordable housing financing; the bank reports robust 2025 financial performance with pre-provision, pre-tax earnings up 30% year-over-year to C$30 billion, driven by higher net interest income, and pursues U.S. expansion through targeted mergers and acquisitions of wealth management firms with sweep deposits to enhance its funding base and client relationships.