RBC: History and Sustainability Essay

RBC: History and Sustainability Essay

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The Royal Bank of Canada, if you couldn't tell, is a Canadian company. It is the largest financial institution in Canada. It started as the Merchants' Bank in Halifax, Nova Scotia, which was founded in 1864 by a small group of enterprising Halifax merchants: J.W. Merkel, Edward Kenny, T.C. Kinnear, John Duffus, William Cunard, John Tobin, George P. Mitchell, Jeremiah Northup. The Merchants' Bank focused mainly on financing the fishing and timber trade, and the annual flow of retail goods from Europe into the colony. The bank then received a federal charter in 1869 under the name of the Merchants' Bank of Halifax. As the bank continued to grow, they chose the name “The Royal Bank of Canada” in 1901 to distinguish themselves from other banks. Then in 1990 they shortened their legal name to “Royal Bank of Canada”. The Royal Bank of Canada, now operates under the adopted brand name of "Royal Bank Financial Group" or RBC.
Royal Bank, wanting to expand to more parts of the world, established a branch in Havana in 1899 to take advantage of trade in sugar, cocoa, tobacco, and other Caribbean staples. This started the steady expansion of Royal Bank throughout the Caribbean and Latin America. The bank expanded to 121 international branches, stretching from Rio de Janeiro in the south to Honduras in Central America by 1925. They then established branches in London, Paris, Barcelona and New York to improve trade financing and foreign exchange with the Caribbean and South America. Under the leadership of John E . Cleghorn from 1995 to 2011, Royal Bank transformed into a broad-based financial services group. To expand further into America, they started listing common shares on the New York Stock Exchange in 1995. They also acquired Security F...

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...onetary value, but in the end would make them fully sustainable. Third and finally, by continuing to offer financing and capital for new green energy sources and other companies to improve sustainability would not only help them reach their own green goals, but provide others with the ability to be fully sustainable.
In conclusion, Royal Bank of Canada is a fully capable, and sustainable company that has a bright future and is helping to make our world a better place.

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