1887 - 1914

In December 1894, Newfoundland's two local banks failed leaving the colony without banking facilities and a circulating currency. In January 1895, three Canadian banks, including the Merchants' Bank of Halifax, established agencies in St. John's to assist with the restoration of essential banking services. The rescue effort by Canada's banks demonstrated the sustaining power of a national banking system. Pictured above is Royal Bank's newly opened Water Street branch in December 1921.

Frontier banking often required the hasty construction of branch premises. Following the booming mineral economy in British Columbia, the bank vaulted across the continent to open branches in the frontier mining towns of Rossland and Nelson and north, to the Klondike gold fields where branches were opened in Atlin and Bennett Lake. Bennett Lake branch is shown here soon after it opened in the spring of 1899.

From the beginning of the twentieth century, Royal Bank had eyed Toronto with ambition. On February 2, 1903, Royal Bank established its first Toronto branch. However, stiff competition, a scarcity of labour and the high costs of real estate had blunted any serious expansion. The strategic acquisition of Toronto-based Traders Bank of Canada in 1912 gave Royal Bank greater exposure than any other bank in Ontario. The Dinnick Building, located on King Street East, served as the focal point of Royal Bank's Toronto business from 1909 until the purchase of the Traders Bank in 1912.

A daring 1920s hold-up of a collection car of the Bank d'Hochelaga inspired several Canadian banks to purchase specially designed armoured vans for improved security. Royal Bank purchased this heavily built olive grey military looking motor van, the only one of its kind in Canada or the United States at the time, to transport its collections between its Montreal branches and to the main office. The van was powered by a 50 h.p. motor and the body measured 9 feet 6 inches long. The sides were constructed of armour plates with 2 1/2 inches of bullet resisting felt between.

Once appointed, a branch manager had great autonomy over the daily affairs of the branch. Aside from the annual bank inspector's visit, branch staff were often tied to head office by no more than the telegraph. Rulebooks and circulars kept staff abreast of bank policy. The older gentleman at the bottom right was the branch manager.

Once winter rolled around, many Canadian bankers took to the ice, playing in fiercely competitive bankers' hockey leagues. Throughout the first half of the 20th century, these leagues thrived and attracted as many as 6,000 spectators per game. Initially a male pastime, by the 1920s women, who had found certain niches for bank employment, also headed to the rinks to strap on their skates. Carrying on with this time honoured tradition, many Royal bankers still carry their equipment bags in the trunks of their cars today.