Business profile
RBC Banking serves 11.5 million
individual, small and medium-sized business and mid-market commercial
clients in Canada, the U.S., the Caribbean and the Bahamas. Multiple
distribution capabilities include a network of branches, business
banking centres and other sales units, accredited financial planners,
mobile sales representatives, automated banking machines, and telephone
and Internet banking channels. RBC Banking provides clients with
tailored solutions and financial planning and advice based on life
events through a diverse range of financial products and services
including deposit accounts, investments and mutual funds, credit
and debit cards, business and personal loans, and residential and
commercial mortgages.
Share of RBC 2003 net income (1)
Key strategies
• |
Deliver a superior and tailored client experience, with extraordinary
focus on our high value clients |
• |
Ensure strong revenue
growth in North America, deepening client relationships, drawing
on financial planning and advice capabilities and selectively
expanding our U.S. network
in the Southeast and in targeted national markets |
Key operating highlights
• |
Launched new client resolution process across
Canada to strengthen problem resolution and ensure consistent
level
of client service |
• |
Enhanced cross-selling
initiative, called RBC Referrals, to maximize client access
to services and products from across the organization |
Financial highlights – U.S. GAAP
|
(C$ millions,
except percentage amounts) |
% chan |
ge |
|
2003 |
|
|
|
2002 |
|
|
|
|
|
|
|
|
|
|
Total revenues |
– |
|
$ |
7,652 |
|
|
$ |
7,647 |
Provision for credit losses |
(12 |
)% |
|
554 |
|
|
|
626 |
Non-interest expense |
3 |
|
|
4,642 |
|
|
|
4,520 |
Net income |
1 |
|
|
1,554 |
|
|
|
1,546 |
Return on equity (6) |
160 |
bp |
|
20.8% |
|
|
|
19.2% |
|
|