|May 22, 2008|
RBC Extends Commercial Banking Services Into Europe, Asia/Pacific
|With 28 per cent of its small business and commercial clients already doing business around the world, and a further 10 per cent looking to do so within the next two years, RBC is extending its integrated global financial services throughout Europe and the Asia/Pacific region, including China and India.|
"For some time, Canada's biggest corporations have had access to the global treasury management solutions they need," explained Jana Henderson, director, RBC Global Solutions. "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."
"Just as understanding a company's business and industry is critical to adding real value, so is the ability to support their success when their business enters new countries around the world," added Ms. Henderson.
RBC's small business and commercial clients currently conduct business in more than 100 countries. While the most business activity continues to be with the U.S. (84 per cent), 15 per cent now involves Europe, nine per cent involves China, and seven per cent involves other countries in the Asia/Pacific region. Of the 10 per cent of RBC's clients who anticipate entering the international arena within the next two years, one-in-five are looking at China, while one-in-seven are planning activity in Europe or the Asia/Pacific.
RBC's research finds that the four Canadian industry sectors most actively doing business around the world are Manufacturing (28 per cent), Wholesale (13 per cent), Consumer Services (10 per cent), and Knowledge-Based Industries (eight per cent.)
To further support the success of its small business and commercial clients, RBC is partnering with Deutsche Bank AG, to leverage its extensive European and Asia/Pacific financial services infrastructure. With RBC as the single point of contact for their international banking needs, Canadian-based companies and their foreign subsidiaries will be able to access a full range of global treasury management solutions for their day-to-day banking, including in-country deposit accounts, payments, collections, and online access.
This is the first in a series of initiatives RBC is embarking on to extend and enhance its reach globally beyond Canada and the U.S., into the European and Asia/Pacific countries where RBC clients are expressing the most interest in doing business. RBC's Global Transaction Solutions team of international specialists will continue to provide industry-leading global expertise in such areas as foreign exchange, payments, collections, and trade finance products.
"Our clients already have access to RBC's extensive capabilities for their business banking needs in North America," added Shauneen Bruder, executive vice-president, Business and Commercial Banking for RBC. "However, our clients' horizons are widening beyond North American borders and we're keeping pace. We're going to continue to be wherever they need us, providing the advice and global capabilities to support their success."