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News Releases


Canadians rate RBC Royal Bank first in branch service and value for money

TORONTO, August 29, 2007 — An independent study of Canadians by a leading market research firm has ranked RBC Royal Bank as first among the country's five major banks for the service it provides clients in its branches (Branch Service). The Synovate survey also gave RBC top honours by ranking it number one in the Value for Money category in 2007.

"In 2004, we launched our client first strategy to re-focus our entire organization on our clients. We took action to revitalize and reenergize our branch network to focus on the branch experience," said Jim Westlake, group head, Canadian Banking. "Our strategy is to be the leader in client service, and receiving these top rankings confirms that this strategy is being welcomed by our clients. This breakthrough also reflects the tremendous dedication of our branch staff in understanding the needs of our clients and developing strong relationships with them."

RBC has made a concerted effort towards service enhancements to earn the loyalty of existing clients and give new clients more reasons to switch to RBC. This was accomplished by:

  • Expanding branches and putting more staff in front of customers

  • Introducing new products and services such as e-savings accounts, new chequing account line-up, loyalty rebates, and accounts that waive the fees on using a competitor's ATM.

While RBC has always had one of the largest branch and ATM networks in Canada, together with its national network of mobile financial planners and mortgage specialists who are available around the clock, RBC has the most customer service access points of any bank in Canada.

"The Synovate rankings prove that our clients are noticing positive changes at RBC and seeing value in being able to meet face-to-face with knowledgeable and helpful staff when making major financial decisions," added Westlake. "We know it's not enough to have the largest branch and ATM network in Canada, if you don't also have excellent branch service and provide value for money too. We also understand that we need to keep improving in order to keep pace with the growing expectations of our clients."

The 2007 Synovate study, known as the Customer Service Index, was launched in 1987 and is conducted annually. Synovate's survey results were taken from July through mid August 2007 using a nationally representative sample of more than 17,500 customers at banks and other financial institutions across the country.

- 30 -

Media Contact:
Beja Rodeck, RBC Media Relations, (416) 974-5506



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08/29/2007 08:44:13