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RBC Global Services

RBC Global Services (5)

Business profile
RBC Global Services offers specialized transaction processing services to business, commercial, corporate and institutional clients in Canada and select international markets, principally the U.K. and Australia. Key businesses include global custody, investment administration, correspondent banking, cash management, payments and trade finance.

Share of RBC 2003 net income (1)
RBC Global Services - share of income

Key strategies
•  Expand the business through key alliances, acquisitions and partnerships
Enhance our processing and systems platforms to deliver new capabilities, improve efficiencies and achieve economies of scale

Key operating highlights
•  Launched RBC Express, a new online transaction and information service, to provide our business clients with secure access to a suite of traditional and new cash management products
Formed new Hedge Funds Service Group to enhance our offering to our high net worth and institutional investors, including a wider range of hedge fund products and services from a single source

Financial highlights – U.S. GAAP
(C$ millions,
except percentage amounts)
% chan ge      2003         2002
Total revenues 4 % $ 844     $ 808
Non-interest expense 9     595       548
Net income 3     178       173
Return on equity (6) (100 ) bp   27.7%       28.7%





(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.