Royal Bank of Canada

RBC (Royal Bank of Canada) is the largest multinational banking company in Canada, surpassing CIBC, Bank of Canada and Bank of Montreal. It provides financial and retail, corporate, investment, and private banking services

History

In the 1864s, merchants used to work in fishing and logging businesses, and their financing was very important. Therefore, the Merchants Bank of Halifax was created in Nova Scotia as a regional bank. It was growing rapidly in these negotiations and took advantage of the fall of 2 banks of that time, the Commercial Bank of Newfoundland and the Union Bank of Newfoundland in 1894.

Seven years later, it began to be called RBC (Royal Bank of Canada) and moved to Montreal. It aimed to grow financially and in size, so it joined the Union Bank of Halifax in 1910. From that moment on, the bank already had enough tools to open offices in different parts of the country.

The entity had a series of mergers that helped it further consolidate. It joined with Traders Bank of Canada, Quebec Bank, Northern Crown Bank, Union Bank of Canada. Little by little, it was offering new and more services that include insurance, credit cards, products (life, health, cars, etc.) and many more. It expanded internationally by establishing branches in the United States, Cuba, Puerto Rico, Bahamas, Honduras, Costa Rica, Argentina, Venezuela, France, Uruguay, Colombia, and more countries.

Routing Number

It is a nine-digit number that identifies a bank or branch in the United States. The banking institution’s routing number is 063216608.

Number of Employees

The bank has approximately 79,308 employees.

Rating

It represents the bank’s ability to face a risk or financial debt. Usually, the qualification is carried out by several qualified agencies.

RBC has a rating of:

  • S&P = AA-.
  • Moody’s = Aa2.
  • Fitch = AA.

AA- (S&P Global) = The entity has excellent quality, very stable, and with little risk.

Aa2 (Moody’s) = It has high quality and with a little more risk to long-term risks.

AA (Fitch) = It means that the bank has very high security.

Headquarters

The headquarters are located in Toronto, Canada.

Website

The website of the RBC is http://rbc.com

Services

It offers a wide variety of financial services and banking operations. It allows clients, companies, or institutions to carry out any banking activity such as deposits, loans, financing, investments, mortgages, payments, national and international transactions, capital markets, wealth management, treasury, and many more.

Contact

  • Address: 200 Bay Street, Toronto, Ontario.
  • Phone Number: +1 506-864-2275 (Customer Service).