Royal Bank of Canada was founded in Halifax. It is Canada's the largest financial institution. This is based on its financial deposits, revenues and market capitalization. It is also considered to be among the world's largest banks.
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 segment that offers business financial services plus personal banking services to Canadian residents. This service is offered via its many branches in all parts of Canada. It also makes use of ATM network, contact centers and internet banking. This enables it to reach approximately ten million customers in Canada.
Then there is its international banking segment which comprises of banking services in the US where it has over 400 branches. It also has a large client base in Caribbean countries where it has over 120 branches. It also serves clients in other 48 countries internationally.
It provides financial advice to corporates and government through its capital market segment. This advice is about the world's financial markets and innovative products to help these organizations achieve their growth objective. In fact the bank is recognized as one of the world's top 15 global investment banks.
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.
This institution has gained recognition in its leading role in diversity. This is visible from its workforce. This bank not only employs a large number of women but it also awards them senior jobs. People looked at as visible majority also get employment. The disabled are considered fairly too.
Royal Bank of Canada is not only recognized for its financial services but also for its corporate social responsibility. It donates to charities worldwide. It also sponsors sports and athletics both locally and internationally. It has also initiated various programs concerned with preservation of the environment.
