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Royal Bank of Canada SWOT & PESTLE Analysis

ID : 52747853| Sep 2020| 16 pages

COMPANY PROFILE -Royal Bank of Canada

Business Sector :Banking and Financial Services

Operating Geography :Canada, North America, Global

About Royal Bank of Canada :

The Royal Bank of Canada is a Canadian multinational financial services company. It was founded in 1864. It has its corporate headquarters in Toronto, Ontario. It is the largest bank in Canada by market capitalization. The bank provides various services like retail banking, corporate banking, investment banking, mortgage loans, private banking, wealth management, credit cards, finance and insurance. It operates in 36 countries and provides services to more than 17 million clients. In Canada, the bank’s personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale in French. As of early 2020, it employed more than 85,000 people.
The diversified business model with focus on innovation and providing exceptional services remains its USP or unique selling proposition. The bank’s purpose to help clients thrive and communities prosper guides the various services that it provides. Its vision is “to be among the world’s most trusted and successful financial institutions”. The values of the bank are “Client First”, “Collaboration”, “Accountability”, “Diversity & Inclusion” and “Integrity”.

Royal Bank of Canada Revenue :


$46,002 million CAD – 2019 – FY ended October 31, 2019
$42,576 million CAD – 2018 - FY ended October 31, 2018

Competitive Analysis of Royal Bank of Canada

SWOT
PESTLE
The SWOT analysis for Royal Bank of Canada is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Highly ranked global company and market leader in BFS segment Canada
2. Broad range of services provided to customers
3. RBC Rewards recognized as the Canada’s leading loyalty program
4. Significantly investments in digitalization and innovation
5. First Canadian bank to introduce digital government identity verification solutions
6. Consistent financial performance over years with a track-record of delivering value to shareholders
1. Reliance on outsourced service providers for key functions
OpportunitiesThreats
1. Using digital technology to attract new clients
2. Growth opportunity in US markets
3. Leveraging transactional data and AI powered insights to fuel business growth
1. Highly competitive financial services market.
2. Impact of COVID-19 outbreak on financial sector
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Detailed SWOT Analysis of Royal Bank of Canada

Strength

1. Highly ranked global company and market leader in BFS segment Canada: Royal Bank of Canada enjoys market leadership in Canada. In domestic market, it ranks #1 or #2 based on market share across the Canadian banking fraternity. It is the largest full-service wealth advisory business. This Canadian multinational financial services company is the largest fund company and leader in high net worth market share. It also has got the competitive advantage of scale and reach. It has the largest distribution network in Canada. It has around 13 million Canadian banking clients. It has also received the highest service excellence and was recognized as Canada’s most valuable brand. It also clinched top spot in customer satisfaction among the big five retail banks in FY2016, FY2017 and FY2018. Besides, it ranked #1 in full-service brokerage investments by assets, revenue and profit. It is the largest discretionary money manager by assets under management and ranks #1 in private bank by revenue, profit, deposits and loans. RBC has also featured in the top 100 global companies as ranked in the 2019 Gender Equality by Equileap.

2. Broad range of services provided to customers: Royal Bank of Canada believes in providing exceptional services to the clients by constantly focusing on innovation. It helps in making the lives of its clients easier by providing a lot of services promptly, quite at the snap of fingers. The services are divided into business segments like Personal & Commercial Banking, Wealth management, Insurance, Investor & Treasury services, Capital Markets and Corporate Support. In Personal & Commercial banking, a broad suite of financial products and services are provided in Canada, the Caribbean and the U.S. Wealth management serves the affluent high net worth and ultra-high net worth clients. The Insurance segment caters to the insurance needs and solutions including creditor, life, health, home, auto, travel, wealth and annuities. In Capital Markets, the bank provides expertise in banking, finance and capital markets to corporations, institutional investors, asset managers, governments and central banks around the world. The Corporate Support provides technological and operational foundation required to efficiently deliver products and services to clients.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

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Threats

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Major Competitors :

  • Commerzbank
  • Bank of Montreal
  • Canadian Imperial Bank of Commerce
  • Toronto-Dominion Bank
  • Bank of Nova Scotia

Major Brands :

  • City National Bank
  • RBC Bank
  • Royal Bank of Trinidad and Tobago
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Royal Bank of Canada Analysis Report

1. Creating more values for clients - http://www.rbc.com/dms/enterprise/investorday/_assets-custom/pdf/download-presentation.pdf
2. Royal Bank of Canada - A Bold Future celebrating 150 years - https://annualreports.rbc.com/ar2019/site-content/uploads/2019/12/01-RBC_AR_2019_ENG.pdf
3. Royal Bank of Canada Investor Presentation - https://www.rbc.com/investor-relations/_assets-custom/pdf/irdeck2020q1.pdf
4. Extending Market Leadership in Wealth Management - http://www.rbc.com/dms/enterprise/investorday/_assets-custom/pdf/download-presentation.pd
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Royal Bank of Canada SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Royal Bank of Canada SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/royal-bank-of-canada/ [Accessed 25 Nov, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Royal Bank of Canada SWOT & PESTLE analysis has been conducted by Sushree Lasyamayee and reviewed by senior analysts from Barakaat Consulting.

Copyright of Royal Bank of Canada SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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Royal Bank of Canada SWOT & PESTLE Analysis
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