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A Strong and Diversified Business
RBC BankingRBC InsuranceRBC InvestmentsRBC Capital MarketsRBC Global Services

RBC Banking

RBC Royal Bank (2)
RBC Centura (3)
RBC Mortgage (3)
RBC Builder Finance (3)
RBC Royal Bank of Canada (4)

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)
RBC Banking - share of income

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%





(1) Another 5% of net income was derived from the Other segment.
(2) Canadian brand name.
(3) U.S. brand names.
(4) Caribbean and the Bahamas brand name.
(5) Global brand names.
(6) Return on equity is defined in the Glossary on page 110.