RBC expands into Europe and Asia

Royal Bank of Canada (RBC) is expanding its network of integrated financial services through Europe and the Asia Pacific region and partnering with Deutsche Bank to provide its Canadian corporate clients with efficient service in their overseas transactions.

RBC estimates that 28% of its small business and commercial clients already conduct global business and it expects this proportion to grow further. Under the partnership with Deutsche Bank, Canadian-based companies and their foreign subsidiaries will be able to access an array of global treasury management solutions, including in-country deposit accounts, payments, collections, and online platforms.

"For some time, Canada's biggest corporations have had access to the global treasury management solutions they need. 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,” comments Jana Henderson, director, RBC global solutions.

Research from RBC has indicated that that the four Canadian industry sectors most actively engaged in global business are manufacturing, wholesale, consumer services and knowledge-based industries.