About Royal Bank of Canada
The Royal Bank of Canada (RBC) is a multinational financial services company and the largest bank in Canada by market capitalization. Founded in 1864 in Halifax, Nova Scotia, RBC serves over 20 million clients worldwide with a workforce of more than n clients worldwide with a workforce of more than 100,000 employees. RBC offers a wide range of services, including personal and commercial banking, wealth management, insurance, investment banking, and capital markets. In Canada, its personal and commercial banking operations are branded as RBC Royal Bank, catering to approximately 11 million clients through a network of 1,284 branches. The bank has a significant international presence, operating in 36 countries. In the United States, RBC owns City National Bank, which operates 79 branches across 11 states. Additionally, RBC has 127 branches across 17 countries in the Caribbean, serving over 16 million clients. Recently, RBC reported a 17.7% increase in adjusted net income, reaching CAD 4.44 billion, driven by the acquisition of HSBC's Canadian operations and strong performance in its wealth management division. However, the bank has faced regulatory challenges, including a fine of £34.2 million by the UK's Competition and Markets Authority for the unlawful exchange of sensitive information related to UK government debt.
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