Business profile
RBC Capital Markets provides wholesale financial services to large
corporate, government and institutional clients in North America
and in specialized product and industry sectors globally. Headquartered
in Toronto, RBC Capital Markets has key centres of expertise
in Minneapolis, New York and London, and offices in 27 other
cities.
Share of RBC 2003 net income (1)
Key strategies
| • |
Maintain position as a leading full-service
provider in all of our markets in Canada by continuing to build
on long-standing client relationships, our trading, research
and sales capabilities, and the strength of our brand and reputation |
| • |
In the U.S., provide value-added solutions
by offering clients a broad product portfolio delivered through
specialized industry teams |
Key operating highlights
| • |
Enhanced FX Direct, an online trading
system, to enable corporate and institutional clients to execute
currency trades directly with the market around-the-clock |
| • |
Introduced bondDirect, an online
fixed income trading system, to provide institutional traders
with the tools to self-execute trades from their desktops |
Financial highlights – U.S. GAAP
 |
(C$ millions,
except percentage amounts) |
% chan |
ge |
|
2003 |
|
|
|
2002 |
|
| |
|
|
|
|
|
|
|
|
| Total revenues |
(2 |
)% |
$ |
2,625 |
|
|
$ |
2,674 |
| Provisions for credit losses |
(59 |
) |
|
189 |
|
|
|
465 |
| Non-interest expense |
3 |
|
|
1,671 |
|
|
|
1,627 |
| Net income |
12 |
|
|
491 |
|
|
|
439 |
| Return on equity (6) |
210 |
bp |
|
12.6% |
|
|
|
10.5% |
|
|
