Topping the list is the largest bank of Canada in terms of revenues and market capitalization.
Royal Bank of Canada serves close to 18 million customers across 50 countries with 10 million served in Canada itself. It has assets were 623 billion and is a regular feature in list of biggest banks in the world. It was formed in 2864 in Halifax, Nova Scotia. Post that it has slowly expanded its operations in US and other countries through series of acquisition both domestic and international. Among other banks in Canada it differentiates itself based on its financial product offerings.
Since 1990s it has worked to transform its image from a retail banker to global financial service provider. With de-regulation of banking industry across Canada and US RBC was pioneer in establishing new products and roping in new clients. It believes that its employees are its biggest strength which have helped the bank deliver better service to its corporate clients. It is said to be the most diversified bank of Canada with assets present across various sector making it extremely resistance to economic downturn. To increase its size RBC wanted to merge with Bank of Montreal ranked 3rd in the list but was rejected by Canadian government. RBC was ranked at 50 in Forbes global 2000 listing for the year of 2013.
Revenue : 34,505,000
Profit : 7,442,000
Market Cap : 82,326 million$
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To arrive at this list following methodology was used
Step 1: Top 20 companies were shortlisted based on their revenues
Step 2: 3 parameters were considered to arrive at ranking namely Revenues, Profits and Market capitalization
Step 3: Profit/Revenue ratio and Market capitalization values were normalized using min-max normalization
Step 4: Weighted score of Profit/Revenue ratio and Market capitalization with 0.5 and 0.5 weights each was computed to get final ranks