RBC Extends commercial banking services into Europe, Asia/Pacific
Provides day-to-day global banking services for small and commercial firms
TORONTO, May 22, 2008 — With 28 per cent of
its small business and commercial clients already doing business
around the world, and a further 10 per cent looking to do
so within the next two years, RBC is extending its integrated
global financial services throughout Europe and the Asia/Pacific
region, including China and India.
"For some time, Canada's biggest corporations have had
access to the global treasury management solutions they need,"
explained Jana Henderson, director, RBC Global Solutions.
"Now RBC is ensuring that Canadian-based small and commercial
businesses can access the same scope and level of service
in Europe and Asia/Pacific - and via the same RBC relationship
team they know and who knows their business and their industry."
"Just as understanding a company's business and industry
is critical to adding real value, so is the ability to support
their success when their business enters new countries around
the world," added Ms. Henderson.
RBC's small business and commercial clients currently conduct
business in more than 100 countries. While the most business
activity continues to be with the U.S. (84 per cent), 15 per
cent now involves Europe, nine per cent involves China, and
seven per cent involves other countries in the Asia/Pacific
region. Of the 10 per cent of RBC's clients who anticipate
entering the international arena within the next two years,
one-in-five are looking at China, while one-in-seven are planning
activity in Europe or the Asia/Pacific.
RBC's research finds that the four Canadian industry sectors
most actively doing business around the world are Manufacturing
(28 per cent), Wholesale (13 per cent), Consumer Services
(10 per cent), and Knowledge-Based Industries (eight per cent.)
To further support the success of its small business and
commercial clients, RBC is partnering with Deutsche Bank AG,
to leverage its extensive European and Asia/Pacific financial
services infrastructure. With RBC as the single point of contact
for their international banking needs, Canadian-based companies
and their foreign subsidiaries will be able to access a full
range of global treasury management solutions for their day-to-day
banking, including in-country deposit accounts, payments,
collections, and online access.
This is the first in a series of initiatives RBC is embarking
on to extend and enhance its reach globally beyond Canada
and the U.S., into the European and Asia/Pacific countries
where RBC clients are expressing the most interest in doing
business. RBC's Global Transaction Solutions team of international
specialists will continue to provide industry-leading global
expertise in such areas as foreign exchange, payments, collections,
and trade finance products.
"Our clients already have access to RBC's extensive
capabilities for their business banking needs in North America,"
added Shauneen Bruder, executive vice-president, Business
and Commercial Banking for RBC. "However, our clients'
horizons are widening beyond North American borders and we're
keeping pace. We're going to continue to be wherever they
need us, providing the advice and global capabilities to support
RBC is recognized as Canada's financial services leader
in cash management, international trade finance, and foreign
exchange. RBC's most recent awards for global financing expertise
include Leading Bank in Cash Management, Technology, and Cross
Border/International Reach (Cash Management & Electronic
Business Banking - 2006, Maritz Research), No. 1 Canadian
Foreign Exchange, Dealer and Electronic Platform, 2007 (Euromoney
Magazine), and Best Trade Finance Bank in Canada, 2007
(Global Finance Magazine).
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Beja Rodeck, +1 416-974-5506, email@example.com