Today I received Royal Bank’s 2016 Annual Report in the mail. I skimmed over the CEO’s letter to the shareholders, which seemed optimistic yet admitting to the various economic challenges the company faces.
Then I got to the financial reports. According to the financial highlights, RBC managed to earn roughly 8.7% more in 2016 than it did in 2015. Totalling $38.4 billion dollars in revenue, RBC can surely call itself an economic powerhouse. Of that $38.4 billion, RBC manages to retain $10.4 billion in profit, which is good news for shareholders. With profit increasing from 2015 to 2016 by 4.3%, investors can hope for a continuing increase in dividends in 2017. Impressive as their earning power is, their ability to attract and sustain wealth is even more impressive. As of 2016, RBC has $526 billion in assets under management.
Part of the reason why RBC is able to earn such an enormous amount of money is surely because of the people they employ. My own experience at RBC has always been pleasant, with courteous service at every branch I’ve visited. With 1,400 branches and 75,510 employees RBC is surely making a lasting impression on North America and beyond.