Royal Bank of Canada (RY): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la banque canadienne, la Banque royale du Canada (RBC) apparaît comme une puissance financière, naviguant stratégiquement sur le terrain complexe des services financiers modernes grâce à sa toile innovante du modèle commercial. En mélangeant magistralement les forces bancaires traditionnelles avec une transformation numérique de pointe, RBC s'est positionné comme une institution financière de premier plan qui non seulement répond, mais anticipe les besoins en évolution de divers segments de clients. Cette exploration complète dévoilera les mécanismes complexes qui stimulent le succès remarquable de RBC, offrant un aperçu de la façon dont ce géant bancaire maintient son avantage concurrentiel dans un écosystème financier de plus en plus numérique et interconnecté.

Banque royale du Canada (RY) - Modèle commercial: partenariats clés

Alliances stratégiques avec les entreprises mondiales de technologie financière

RBC a établi des partenariats stratégiques avec les entreprises technologiques suivantes:

Partenaire	Focus de partenariat	Année initiée
MasterCard	Solutions de paiement numérique	2021
Bande	Traitement des paiements en ligne	2022
Microsoft	Infrastructure de cloud computing	2020

Partenariats avec les fournisseurs d'assurance canadiens et internationaux

Le réseau de partenariat d'assurance de RBC comprend:

• Aviva Canada - Collaboration d'assurance immobilière et de blessures
• Manulife Financial - Initiatives conjointes de l'assurance-vie et de la richesse
• Sun Life Financial - Avantages du groupe et solutions de retraite

Collaboration avec les startups fintech via RBC Innovation Hub

RBC Innovation Hub Investment Statistics:

Métrique	Valeur
Les startups totales de fintech sont prises en charge	87
Investissement annuel dans les startups	42 millions de dollars
Intégrations de démarrage réussies	23

Coentreprises avec des plates-formes de paiement numériques

Partenariats de plate-forme de paiement numérique:

• Apple Pay - Intégration de portefeuille mobile
• Google Pay - Services de transaction numériques
• Samsung Pay - Solutions de paiement mobile

Relations des fournisseurs avec les entreprises de cloud computing et de cybersécurité

Partenariats clés des fournisseurs de technologies:

Fournisseur	Service fourni	Valeur du contrat
Services Web Amazon	Infrastructure cloud	78 millions de dollars par an
Sécurité IBM	Solutions de cybersécurité	55 millions de dollars par an
Systèmes Cisco	Sécurité du réseau	42 millions de dollars par an

Banque royale du Canada (RY) - Modèle d'entreprise: activités clés

Services de vente au détail et commerciaux

RBC exploite 1 309 succursales à travers le Canada à partir de 2023, desservant 17 millions de clients personnels et commerciaux. Les revenus totaux des services bancaires personnels et commerciaux ont atteint 23,4 milliards de CAD au cours de l'exercice 2023.

Catégorie de service bancaire	Revenus annuels (CAD)	Segments du client
Banque personnelle	14,2 milliards	Consommateurs individuels
Banque commerciale	9,2 milliards	Petites et moyennes entreprises

Développement de la plate-forme bancaire numérique

RBC a investi 4,8 milliards de CAD dans la technologie et la transformation numérique en 2023. La plate-forme bancaire numérique dessert 10,5 millions d'utilisateurs bancaires numériques actifs.

• Téléchargements d'applications bancaires mobiles: 6,2 millions
• Volume de transaction en ligne: 2,3 milliards de transactions par an
• Taux de pénétration des banques numériques: 76% du total de la clientèle

Investissement et gestion de la patrimoine

RBC Wealth Management a rapporté 689 milliards de CAD d'actifs clients en cours d'administration pour 2023.

Segment de gestion de la patrimoine	Actifs sous gestion	Revenu
Investissement personnel	CAD 412 milliards	6,7 milliards de CAD
Investissement institutionnel	277 milliards de CAD	4,3 milliards de CAD

Gestion des risques et avis financier

RBC maintient 126 milliards de CAD de réserves de capital pour la gestion des risques. Emploie 1 200 professionnels de la gestion des risques dédiés.

Opérations bancaires d'entreprise et institutionnelles

Le segment des services bancaires d'entreprise a généré 11,6 milliards de revenus pour 2023. Dessert 80 000 clients d'entreprise et institutionnels dans le monde.

• Présence mondiale des services bancaires d'entreprise: 34 pays
• Portefeuille total de prêts d'entreprise: 362 milliards de CAD
• Transactions de banque d'investissement: CAD 87,4 milliards

Banque royale du Canada (RY) - Modèle d'entreprise: Ressources clés

Réseau de succursale étendue

En 2023, la Banque Royale du Canada exploite:

• 1 280 succursales à travers le Canada
• 4 500 ATM à l'échelle nationale

Couverture géographique	Nombre d'emplacements
Succursales au Canada	1,280
Réseau ATM	4,500

Infrastructure bancaire numérique

RBC Digital Banking Metrics:

• 7,2 millions d'utilisateurs bancaires numériques actifs
• Plus de 5,5 millions d'utilisateurs de banques mobiles

Capital financier et réserves

Métrique financière	Montant (2023)
Actif total	1,96 billion de dollars
Ratio de niveau 1 de l'équité commun	14.2%
Total des réserves de capital	57,8 milliards de dollars

Composition de la main-d'œuvre

• Total des employés: 89 000
• Professionnels titulaires de diplômes avancés: 62%

Capacités technologiques

Investissement technologique en 2023:

• Budget technologique annuel: 4,2 milliards de dollars
• Projets d'IA et d'apprentissage automatique: 127
• Investissement en cybersécurité: 680 millions de dollars

Banque royale du Canada (RY) - Modèle d'entreprise: propositions de valeur

Solutions financières complètes pour divers segments de clients

La Banque Royale du Canada propose un large éventail de services financiers ciblant plusieurs segments de clients:

Segment de clientèle	Total des clients	Contribution des revenus
Banque personnelle	17,1 millions	22,4 milliards de dollars
Banque commerciale	330 000 entreprises	8,6 milliards de dollars
Gestion de la richesse	4,2 millions d'investisseurs	15,3 milliards de dollars
Corporatif & Banque d'investissement	2 500 clients institutionnels	12,7 milliards de dollars

Expériences bancaires numériques et traditionnelles intégrées

Performance de la plate-forme bancaire numérique:

• Utilisateurs des banques mobiles: 5,3 millions
• Transactions bancaires en ligne: 2,1 milliards par an
• Taux de satisfaction de la plate-forme numérique: 87%
• Téléchargements d'applications mobiles: 4,7 millions

Conseils financiers personnalisés et gestion de la patrimoine

Catégorie de service	Nombre de conseillers	Actifs sous gestion
Planification financière	3 200 conseillers certifiés	689 milliards de dollars
Gestion des investissements	1 800 professionnels de l'investissement	412 milliards de dollars

Taux d'intérêt concurrentiels et produits financiers

Offres de produits financiers actuels:

• Taux hypothécaires: 5,69% - 6,24%
• Taux de prêt personnel: 7,99% - 12,99%
• Intérêt du compte d'épargne: 4,25% - 5,50%
• Taux de carte de crédit: 19,99% - 24,99%

Focus sur la confiance et la sécurité des clients

Métrique de sécurité	Indicateur de performance
Investissement de prévention de la fraude	287 millions de dollars par an
Budget de cybersécurité	412 millions de dollars
Protection des données client	Taux de protection de 99,97%

Banque royale du Canada (RY) - Modèle d'entreprise: relations clients

Expériences bancaires numériques personnalisées

La plate-forme bancaire numérique RBC dessert 6,2 millions d'utilisateurs de banque numérique actifs en 2023. Les téléchargements d'applications bancaires mobiles ont atteint 4,8 millions au Canada. Le volume des transactions numériques a augmenté de 22,3% par rapport à l'année précédente.

Service numérique	Engagement des utilisateurs
Application bancaire mobile	4,8 millions de téléchargements
Plateforme bancaire en ligne	6,2 millions d'utilisateurs actifs
Croissance des transactions numériques	22,3% en glissement annuel

Support client multicanal

RBC exploite 1 278 succursales physiques et 4 429 distributeurs automatiques de billets à travers le Canada. Les canaux de support client comprennent:

• Prise en charge du téléphone 24/7
• Services de chat en direct
• Assistance par e-mail
• Service client sur les réseaux sociaux

Programmes de fidélité et récompenses

Le programme de récompenses RBC comprend:

Fonctionnalité du programme	Détails
Membres de la fidélité totale	3,9 millions
Points moyens gagnés chaque année	85 000 points par membre
Options de rachat	Voyage, marchandises, cashback

Services d'éducation financière et de conseil

RBC fournit des services de conseil financier complets à travers:

• 1 200 conseillers financiers dévoués
• Ressources d'apprentissage en ligne
• Webinaires gratuits
• Consultations d'investissement personnalisées

Engagement client proactif

Métriques d'engagement numérique pour 2023:

Canal numérique	Métriques d'engagement
Interactions d'applications mobiles	2,3 milliards d'interactions annuelles
Séances bancaires en ligne	1,7 milliard de sessions annuelles
Opt-ins de notification push	68% des utilisateurs bancaires numériques

Banque royale du Canada (RY) - Modèle d'entreprise: canaux

Sites Web bancaires en ligne

La plate-forme bancaire numérique RBC dessert 12,5 millions d'utilisateurs bancaires numériques actifs au quatrième trimestre 2023. Le site Web de banque en ligne gère environ 3,2 milliards de transactions numériques par an.

Métrique du canal numérique	2023 statistiques
Utilisateurs numériques actifs	12,5 millions
Transactions numériques annuelles	3,2 milliards
Site Web Visiteurs mensuels uniques	8,9 millions

Applications bancaires mobiles

L'application mobile RBC a enregistré 10,2 millions d'utilisateurs de services bancaires mobiles actifs en 2023. L'application prend en charge plus de 250 fonctions de service financier.

• 10,2 millions d'utilisateurs de banques mobiles
• 250+ fonctions de service financier
• Disponible sur les plateformes iOS et Android

Réseaux de succursale physiques

RBC exploite 1 215 succursales physiques à travers le Canada en 2023. Le réseau de succursales couvre les 10 provinces et 3 territoires.

Détails du réseau de branche	2023 statistiques
Branches physiques totales	1,215
Provinces couvertes	10
Territoires couverts	3

Infrastructure ATM

RBC maintient 4 200 distributeurs automatiques de billets à l'échelle nationale. Le réseau traite 225 millions de transactions ATM par an.

• 4 200 distributeurs automatiques de billets
• 225 millions de transactions annuelles
• Prend en charge les services bancaires 24/7

Centre de contact et services bancaires téléphoniques

Les centres de contact RBC gèrent 58 millions d'interactions client par an. Services bancaires téléphoniques disponibles en anglais et en français.

Métrique du centre de contact	2023 statistiques
Interactions annuelles du client	58 millions
Langues prises en charge	2 (anglais, français)
Temps de réponse moyen	3,5 minutes

Banque royale du Canada (RY) - Modèle d'entreprise: segments de clients

Clients bancaires au détail

En 2024, la Banque Royale du Canada dessert environ 17 millions de clients bancaires personnels au Canada. Le segment des banques de détail comprend:

Catégorie client	Nombre de clients	Solde moyen du compte
Comptes de chef personnels	8,2 millions	$15,600
Comptes d'épargne personnels	6,5 millions	$22,300
Détenteurs de cartes de crédit personnelles	3,9 millions	4 800 $ Limite moyenne de crédit

Petites et moyennes entreprises

RBC prend en charge 160 000 clients de petite et moyenne entreprise (PME) à travers le Canada.

• Taille moyenne des prêts bancaires d'entreprise: 375 000 $
• Portfolio bancaire total des PME: 62,4 milliards de dollars
• Taux d'adoption des banques numériques parmi les PME: 78%

GRANDES clients d'entreprise

RBC dessert 2 700 grands clients d'entreprise avec des revenus annuels dépassant 50 millions de dollars.

Segment de l'entreprise	Nombre de clients	Valeur totale de la relation bancaire
Grandes entreprises	1,200	185 milliards de dollars
Sociétés multinationales	850	142 milliards de dollars
Entités du secteur public	650	38 milliards de dollars

Clients de gestion de la patrimoine

RBC gère 755 milliards de dollars d'actifs de gestion de patrimoine pour 4,3 millions de clients.

• Individus à haute nette: 380 000 clients
• Valeur moyenne du portefeuille: 475 000 $
• Clients de planification de la retraite: 2,1 millions

Clients bancaires internationaux

RBC opère dans 36 pays avec 88 000 clients bancaires internationaux.

Région géographique	Nombre de clients	Revenus bancaires internationaux totaux
États-Unis	52,000	6,2 milliards de dollars
Caraïbes	24,000	1,8 milliard de dollars
Autres marchés internationaux	12,000	980 millions de dollars

Banque royale du Canada (RY) - Modèle d'entreprise: Structure des coûts

Investissements technologiques et infrastructures numériques

Au cours de l'exercice 2023, la Banque Royale du Canada a investi 4,1 milliards de dollars dans la technologie et les infrastructures numériques.

Catégorie d'investissement technologique	Dépenses (CAD)
Plateformes bancaires numériques	1,2 milliard de dollars
Infrastructure de cybersécurité	780 millions de dollars
Systèmes de cloud computing	650 millions de dollars
IA et apprentissage automatique	480 millions de dollars

Salaires et compensation des employés

La rémunération totale des employés pour RBC en 2023 était de 13,6 milliards de dollars.

• Salaire moyen des employés: 95 400 $
• Rémunération des cadres: 22,3 millions de dollars pour le PDG Dave McKay
• Nombre total d'employés: 86 000

Entretien succursale et opérationnel

RBC a dépensé 2,3 milliards de dollars pour l'entretien des succursales et opérationnels en 2023.

Catégorie de maintenance	Coût (CAD)
Entretien physique des succursales	890 millions de dollars
Maintenance d'infrastructure informatique	670 millions de dollars
Coûts opérationnels immobiliers	740 millions de dollars

Frais de conformité réglementaire

RBC a alloué 1,1 milliard de dollars pour la conformité réglementaire en 2023.

• Conformité anti-blanchiment de l'argent: 380 millions de dollars
• Systèmes de gestion des risques: 420 millions de dollars
• Infrastructure de rapport réglementaire: 300 millions de dollars

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing pour RBC en 2023 étaient de 675 millions de dollars.

Canal de marketing	Dépenses (CAD)
Marketing numérique	290 millions de dollars
Publicité médiatique traditionnelle	220 millions de dollars
Programmes d'acquisition de clients	165 millions de dollars

Banque royale du Canada (RY) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et hypothèques

Pour l'exercice 2023, la Banque Royale du Canada a déclaré un revenu net d'intérêts de 23,4 milliards de dollars. Déchange des sources de revenus d'intérêts:

Catégorie de prêt	Revenu d'intérêt
Prêts personnels	8,2 milliards de dollars
Prêts hypothécaires	12,6 milliards de dollars
Prêts commerciaux	6,2 milliards de dollars

Frais d'investissement et de gestion de la patrimoine

Les revenus d'investissement et de gestion de la patrimoine pour 2023 ont totalisé 5,7 milliards de dollars.

• Frais de gestion des actifs: 2,3 milliards de dollars
• Frais de gestion des fonds communs de placement: 1,9 milliard de dollars
• Frais de service consultatif: 1,5 milliard de dollars

Frais de transaction et de service

Les revenus des frais de transaction et de service en 2023 ont atteint 3,4 milliards de dollars.

Catégorie de service	Revenu
Frais bancaires personnels	1,6 milliard de dollars
Frais bancaires d'entreprise	1,2 milliard de dollars
Frais de transaction internationale	0,6 milliard de dollars

Revenus de traitement de carte de crédit et de paiement

Les revenus de traitement des cartes de crédit et des paiements pour 2023 étaient de 4,2 milliards de dollars.

• Frais d'échange de carte de crédit: 2,1 milliards de dollars
• Frais de traitement des paiements: 1,5 milliard de dollars
• Frais annuels de carte de crédit: 0,6 milliard de dollars

Ventes d'assurance et de produits financiers

Les ventes d'assurance et de produits financiers ont généré 3,9 milliards de dollars en 2023.

Catégorie de produits	Revenu
Assurance-vie	1,7 milliard de dollars
Assurance des biens et des victimes	1,2 milliard de dollars
Produits d'assurance investissement	1,0 milliard de dollars

Royal Bank of Canada (RY) - Canvas Business Model: Value Propositions

Comprehensive, integrated financial services (OneRBC approach)

Royal Bank of Canada provides a full suite of services across its diversified business model, which includes Personal Banking, Wealth Management, Capital Markets, and Commercial Banking. The integration of these segments is a core value proposition, exemplified by RBC Insurance being an integral part of the OneRBC model, working alongside Canadian Wealth Management and Personal Banking to deliver combined wealth and insurance solutions. The bank's overall scale supports this, reporting total assets exceeding $1.621 Trillion as of July 2025. The fiscal 2025 Return on Equity (ROE) reached 16.3%, reflecting the performance derived from this integrated approach.

Global banking capabilities for internationally-connected clients

Royal Bank of Canada serves over 19 million clients across Canada, the U.S., and 27 other countries. The bank aims to be the preferred partner for institutional, corporate, commercial, and high-net-worth clients in the United States, while in select global financial centres, it strives to be a leading partner valued for its expertise. The Capital Markets segment saw Global Markets revenue increase 30 percent from the prior year in Q4 2025, driven by higher fixed income trading across all regions. The bank maintains a robust capital base, evidenced by a Common Equity Tier 1 (CET1) ratio of 13.5% in Q4 2025, well above regulatory minimums.

Market leadership in Canadian banking products and services

A primary strategic goal for Royal Bank of Canada is to be the undisputed leader in financial services in Canada. This leadership is supported by strong operational metrics within its core domestic segment. For instance, in Q4 2025, Personal Banking Canada reported net income up 20 percent year-over-year, supported by an efficiency ratio improvement to 38.4%. The bank's loan to deposit ratio in Canadian banking improved to 97%, helping fund loan growth efficiently.

Dedicated private wealth advisory for High-Net-Worth clients

Royal Bank of Canada's Wealth Management division offers dedicated services for High-Net-Worth (HNW) clients. RBC Wealth Management is recognized as North America's best private bank for HNW customers, holding the number one market share for HNW assets in its home market. The firm's global Assets Under Administration (AUA) reached US$3.65 trillion as of July 31, 2025. In Canada, RBC Family Office Services provides tax, estate, and financial planning expertise, utilizing a team of over 200 lawyers, accountants, will and estate consultants, and other specialists. The Q3 2025 revenue for all wealth businesses was CA$5.5 billion, with non-interest expenses at CA$4.2 billion.

Here's a look at the scale of the wealth operations:

• Global Assets Under Administration (AUA) as of July 31, 2025: US$3.65 trillion
• RBC Family Office Services team size (Canada): Access to over 200 professionals
• Q3 2025 Wealth Management Revenue (All businesses): CA$5.5 billion
• Q3 2025 Wealth Management Non-Interest Expenses (All businesses): CA$4.2 billion

Commission-free ETF trading on RBC Direct Investing

Royal Bank of Canada enhanced its value proposition for self-directed investors by introducing commission-free ETF trading. RBC Direct Investing offers a curated selection of over 50 commission-free ETFs, including popular iShares funds. This move contrasts with its previous standard fee structure. Furthermore, as of August 1, the bank eliminated its quarterly account maintenance fee regardless of account size.

You can see the fee structure shift below:

Service/Fee Type	Previous Standard Fee	Current Offering (Late 2025)
ETF Trades (Eligible)	$9.95 per trade	$0 commission on ~50 select iShares ETFs
Stock Trades	$9.95 per trade	$9.95 per trade (or $6.95 for 150+ trades/quarter)
Quarterly Account Maintenance Fee	Applied (unless conditions met)	Eliminated as of August 1

The platform remains a major player, with clients actively trading, as seen by the top bought ETFs in November 2025, such as the iShares Core Equity ETF Portfolio.

Royal Bank of Canada (RY) - Canvas Business Model: Customer Relationships

You're looking at how Royal Bank of Canada builds and keeps its client base across its diverse operations as of late 2025. It's a mix of high-touch personal service and scaled digital tools, which is key for a bank of this size.

Dedicated relationship managers for commercial and corporate clients

For mid-market corporations, Royal Bank of Canada's Corporate Client Group deploys dedicated Relationship Managers. These managers focus on a modest portfolio of Mid-market companies that have revenues greater than $100 million. This dedicated coverage model is designed to provide trusted advisory services. Commercial Banking saw earnings growth of 7% for the full year ended October 31, 2025, supported by a 16% increase in average loans and acceptances across client segments.

Digital self-service tools and AI-driven personalized support

Royal Bank of Canada is clearly pushing technology to serve clients, both internally and externally. The bank launched RBC Assist, an AI tool specifically for employees, and entered a partnership with NVIDIA to support this. On the client-facing side, the U.S. transaction banking platform, RBC Clear, has onboarded over 180 clients and secured US$23 billion in deposits this year, working toward a medium-term target of US$50 billion. Also, in Direct Investing, the bank is enhancing its value proposition by introducing commission-free ETF trading to win with early-stage investors.

High-touch advisory model for Wealth Management clients

The approach in Wealth Management is about deepening relationships and leveraging data-driven insights. The total Assets Under Administration (AUA) across all Wealth Management advisory businesses has reached $2.3 trillion. Canadian Wealth Management saw annual net new assets increase by $33 billion, which is a 4.9% growth rate. For High-Net-Worth (HNW) clients, the bank launched the Royal Distinction program to provide dedicated support and exclusive benefits as they transition into full-service relationships. The pre-tax margin in Wealth Management improved to 24.5 percent in the latest reporting period.

Here's a quick look at some key metrics supporting these relationship-focused segments:

Metric Category	Segment/Program	Value/Amount (FY 2025)
Assets Under Administration (AUA)	Total Wealth Management Advisory	$2.3 trillion
Net New Assets Growth	Canadian Wealth Management	$33 billion (or 4.9%)
Net New Assets Growth	U.S. Wealth Management	US$28 billion (or 4.3%)
Earnings Growth	Commercial Banking	7%
Loan Growth	Commercial Banking (Average)	16%
Client Onboarding	RBC Clear (U.S. Platform)	Over 180 clients

Loyalty programs like Avion Rewards to foster retention

The Avion Rewards program is positioned as Canada's largest bank-owned loyalty program, designed to offer a comprehensive rewards experience. The program has 3 distinct membership levels: Avion Select, Avion Premium, and Avion Elite. Members can earn cash back and points at over 2,000 retail partners. For high-tier cardholders, the RBC Avion Visa Infinite Privilege Card offers a welcome bonus of up to 70,000 Avion Points. The program also facilitates point conversion to other loyalty programs like WestJet dollars and British Airways Avios. The program was recognized globally, winning '2025 International Loyalty Program of the Year The Americas' for the third consecutive year.

The customer relationship strategies manifest in these key areas:

• Dedicated Relationship Managers for Mid-market clients with revenues over $100 million.
• Avion Rewards featuring 3 membership tiers and partnerships with over 2,000 retailers.
• Wealth Management AUA reaching $2.3 trillion, with Canadian NNA growth at 4.9%.
• Digital platform RBC Clear onboarding over 180 clients in the U.S. market.
• Introduction of commission-free ETF trading for RBC Direct Investing clients.

Finance: draft 13-week cash view by Friday.

Royal Bank of Canada (RY) - Canvas Business Model: Channels

The distribution of Royal Bank of Canada (RY) services relies on a multi-pronged approach, blending a significant physical footprint with advanced digital capabilities, serving distinct client segments through specialized entities.

Extensive physical branch and ATM network across Canada

Royal Bank of Canada maintains a substantial physical presence, which it claims is the largest combined branch and ATM network in Canada. As of the second quarter of fiscal 2025, the network included 1,284 Bank branches in Canada, serving approximately 11 million clients through this channel. The ATM network supported these physical locations, with over 4,000+ ATMs available for cash withdrawal, transfers, and deposits across the country.

The physical network data as of Q2/2025 was:

Channel Component	Count (Q2/2025)	Context
Bank Branches	1,284	In Canada
Automated Teller Machines (ATMs)	4,331	Across the country (Q2/2025 figure)

Digital and mobile banking platforms for retail clients

Digital channels are a core focus, evidenced by increasing adoption rates. For Canadian Banking, the active digital user base showed growth through 2025. The bank is actively investing in technology to support these platforms.

• Active Digital Users (Canadian Banking) in Q4/2025: 10,289 thousand
• Active Mobile Users in Q4/2025: 8,178 thousand
• Digital Personal Adoption Rate in Q4/2025: 63.4%

RBC Direct Investing (self-directed brokerage platform)

RBC Direct Investing is positioned as the second-largest self-directed platform in Canada. This platform is housed within the Wealth Management segment. The total Assets Under Administration (AUA) across all Wealth Management advisory businesses, which includes RBC Direct Investing, reached $2.3 trillion by the end of fiscal 2025.

City National Bank (CNB) network for U.S. commercial and HNW clients

For U.S. commercial and High Net Worth (HNW) clients, Royal Bank of Canada utilizes City National Bank. CNB is the largest bank headquartered in Los Angeles, holding $93 billion in assets as of April 30, 2025. The physical reach includes 79 branches operating across 11 US states. In the fourth quarter of 2025, City National Bank generated $163 million USD in adjusted earnings.

Global Capital Markets offices in major financial centers

The Global Capital Markets division extends its reach through a significant international footprint. RBC Capital Markets operates 58 offices across 14 or 16 countries, serving clients globally in centers across North America, Europe, and the Asia-Pacific region. This global presence supports its investment banking, markets, and advisory services worldwide.

The global channel footprint can be summarized:

Business Channel	Geographic Scope/Metric	Data Point
RBC Capital Markets Offices	Number of Offices	58
RBC Capital Markets Offices	Number of Countries	14 or 16
City National Bank Branches	Number of Branches	79
City National Bank Operations	Number of US States	11
Digital Banking Users	Active Digital Users (Q4/25, '000s)	10,289

Royal Bank of Canada (RY) - Canvas Business Model: Customer Segments

You're mapping out the sheer scale of Royal Bank of Canada (RY)'s client reach, which is massive, spanning retail to the most complex institutions globally. Honestly, understanding these segments is key because their diversified client base is what underpins their status as Canada's largest bank by market capitalization.

Mass market retail clients (Personal Banking)

This is the foundation, the engine of Royal Bank of Canada's domestic operations. They maintain the number one market share in Canada across key retail products. For the fiscal year 2025, Personal Banking in Canada saw strong volume growth, specifically 7% in average loans and 9% in average deposits, showing deep client engagement even as interest rates shifted.

• Total global client base is over 19 million across Canada, the U.S., and 27 other countries.
• The bank targets students with specialized packages, serving approximately 350,000 student clients.
• The acquisition of HSBC Bank Canada in 2024 added approximately 780,000 new customers to the overall base.

Small to mid-sized businesses (Commercial Banking)

This segment, which became a standalone reporting segment effective Q4 2024, focuses on growing strategic business clients. In fiscal 2025, Commercial Banking delivered 7% earnings growth, fueled by solid volume increases. This group is critical for driving transaction and lending revenue across the Canadian footprint.

• Average loans and acceptances grew by 16% in 2025.
• Average deposits increased by 10% across major product lines in 2025.
• The segment serves approximately 280,000 business clients, generating $6.8 billion in annual revenue.

High-Net-Worth (HNW) and Ultra-High-Net-Worth individuals

This group is primarily served through the Wealth Management segment, which saw record results in 2025. Royal Bank of Canada aims to be the preferred partner for HNW clients in the United States. You see the scale in the assets they manage; total Assets Under Administration (AUA) across all advisory businesses reached $2.3 trillion as of late 2025.

Here's a quick look at the scale in Wealth Management:

Metric	Value (Latest Available)	Segment/Geography
Net Income (Q4 2025)	$5.60 billion (Annualized figure from Q4 2025 chart)	Wealth Management (Implied Annualized based on chart structure)
Total Client Assets (AUA)	$2.3 trillion	Total Advisory Businesses (Late 2025)
Net New Assets (2025)	$33 billion (or 4.9 percent)	Canadian Wealth Management (excluding Direct Investing)
Total Client Assets (AUM)	$794 billion	RBC Global Asset Management (Late 2025)
Total Client Assets	$640 billion	RBC Wealth Management-U.S. (as of October 31, 2024)

Large corporations and institutional investors (Capital Markets)

Royal Bank of Canada positions itself as the '#1 Canadian bank-owned capital markets firm by revenue'. This segment is a powerhouse, delivering 18% earnings growth in 2025, driven by strong performance in Global Markets and Corporate & Investment Banking. They are a key player in M&A and trading flows.

• Investment banking revenue was up 26% year-over-year in fiscal 2025 due to higher M&A activity.
• Global Markets revenue increased by 30% from the prior year in 2025, supported by elevated market volatility.
• Market share leadership in Canadian debt was 20.9% and in equity underwriting was 19.3% in 2024.

Internationally-connected commercial and retail clients (post-HSBC)

The acquisition of HSBC Bank Canada was specifically aimed at bolstering this client group, integrating their globally-minded commercial clients. Royal Bank of Canada explicitly targets being a leading financial services partner in select global financial centres. The bank expects to drive further synergies by cross-selling Personal Banking and Wealth Management products, along with enhanced treasury management solutions and international trade capabilities, specifically mentioning strength with internationally-connected clients. This focus is about deepening relationships with clients who need seamless cross-border service, a direct benefit from the HSBC integration.

Royal Bank of Canada (RY) - Canvas Business Model: Cost Structure

The Cost Structure for Royal Bank of Canada is heavily weighted toward personnel, technology modernization, and managing credit risk in the current economic cycle. You're looking at the major outflows that keep this massive operation running, so let's break down the hard numbers we have for the 2025 fiscal year.

Employee Compensation and Benefits

For the staff base, which is now reported to be over 101,000, compensation is a primary cost driver. Looking at the first quarter of fiscal 2025, the Human Resources component of non-interest expense alone was $5,987 million. This single quarter's cost breaks down into several key areas:

Compensation Component (Q1 2025)	Amount (Millions of CAD)
Salaries	$2,354
Variable compensation	$2,569
Benefits and retention compensation	$686
Share-based compensation	$378

The variable compensation component, at $2,569 million for just one quarter, clearly shows how closely personnel costs are tied to performance, which is a key feature of a 'pay for performance' philosophy.

Significant Technology and Digital Transformation Investments

Royal Bank of Canada continues to pour capital into digital transformation, using technologies like AI and machine learning to drive efficiency. While a specific FY2025 technology spend figure isn't explicitly isolated in the full-year reports, the overall non-interest expense for Q1 2025 was $9,256 million [cite: 12 from previous turn]. The bank explicitly cited 'continued investments in technology and talent' as a driver for expense growth in Q1 2025 [cite: 12 from previous turn]. The narrative suggests these tech investments are intended to deliver operating leverage, as the trailing 12-month cost-to-income ratio moved down to the low 50s in Q3 2025 [cite: 13 from previous turn].

Provision for Credit Losses (PCL)

Managing potential loan defaults is a critical, non-operational cost. For the full fiscal year 2025, the Provision for Credit Losses (PCL) totaled $4.36 billion. This represents a significant increase from the prior year's total PCL of $3.23 billion. This higher provisioning reflects management's view on economic headwinds, including slowing growth and trade disruptions [cite: 4 from previous turn].

Branch Network Maintenance and Real Estate Costs

The physical footprint remains a necessary, though managed, expense. For the first quarter of fiscal 2025, the cost categorized as Occupancy was $429 million [cite: 12 from previous turn]. This figure covers the maintenance and real estate costs associated with the branch network and other physical assets.

Integration Costs related to the HSBC Canada Acquisition

The cost of absorbing HSBC Canada is a material, though diminishing, factor in the cost structure. The initial expectation for total acquisition and integration costs was approximately $1 billion [cite: 3, 6 from previous turn]. By Q1 2025, the bank noted that these costs were lower, as the transaction and integration expenses were treated as a specified item and were decreasing [cite: 12 from previous turn]. The acquisition is now contributing to revenue and expense bases, with the inclusion of HSBC Canada results increasing pre-provision, pre-tax earnings by $451 million in Q1 2025 alone [cite: 12 from previous turn].

The total Non-interest Expense for the full year 2025 was reported at $36.6 billion.

• The bank is actively managing its cost base, with the full-year 2025 Non-interest Expense rising to $36.6 billion, up from $34.3 billion in the prior year.
• The efficiency ratio improved to 55.3% in Q1 2025 from 61.7% in Q1 2024 [cite: 12 from previous turn].

Royal Bank of Canada (RY) - Canvas Business Model: Revenue Streams

You're looking at the core engines that power Royal Bank of Canada's financial results as of late 2025. These streams show where the money actually comes from, which is key for understanding their stability.

Total revenue for fiscal 2025 was $66.6 billion, marking a significant increase on a reported basis. This top-line strength was the foundation for record profitability across the institution.

Net Interest Income (NII) from lending and deposit spreads remains a massive component. This is the difference between the interest Royal Bank of Canada earns on its loans and the interest it pays out on deposits. For the full year, this was a key driver, with Personal Banking earnings growing 20%, largely due to higher NII and volume growth. In the fourth quarter, net interest income specifically was up 13% year-over-year.

Fee-based revenue from Wealth Management saw strong momentum. This revenue is generated from fees charged on Assets Under Administration (AUA) and Assets Under Management (AUM). Net income in this segment rose 25% for the full year, driven by higher fee-based client assets resulting from market appreciation and continued net sales. The Assets Under Management in RBC Global Asset Management increased to CAD 794 billion year-over-year.

Capital Markets activity contributed meaningfully through trading and underwriting fees. This segment capitalized on elevated market volatility, supporting strong trading flows. Full-year earnings for Capital Markets were up 18%. The fourth quarter was particularly strong, delivering a record revenue of US$3.6 billion and net income of CAD 1.4 billion, up 45% from the prior year.

Insurance premiums and investment income also form a reliable stream. The insurance business saw its net income rise 14% in fiscal 2025, supported by steady growth in total premiums and deposits, reflecting disciplined underwriting.

Here's a quick look at how the segments contributed to the overall picture based on reported net income changes for the full year 2025:

Revenue Stream / Segment	Full Year 2025 Net Income Growth (YoY)	Key Metric/Data Point
Total Revenue	16% increase (Reported)	$66.6 billion
Wealth Management (Fee-based)	25% increase	AUM: CAD 794 billion
Capital Markets (Trading/Underwriting)	18% increase	Q4 Record Revenue: US$3.6 billion
Personal Banking (NII related)	20% increase	Q4 Net Income: $1.89 billion
Insurance (Premiums/Investment Income)	14% increase	Q4 Net Income: $98 million

The drivers behind the strong pre-provision, pre-tax earnings of $30 billion for the fiscal year included:

• Higher net interest income across personal and commercial banking.
• Stronger capital markets results.
• Growth in fee-based revenue within wealth management.
• Improved claims experience in longevity reinsurance for Insurance.

The bank's strategic focus on expanding its client base and optimizing product offerings clearly paid off in these revenue-generating areas. If onboarding takes 14+ days, churn risk rises, but here, the client asset growth suggests strong engagement.