The employees of Royal Bank of Canada (TSX:RY) have once again been honoured with Retail Banker International’s (RBI) Global Retail Bank of the Year award.
The RBI Awards are a well-established global competition and highly regarded within the industry as a mark of exceptional performance. In addition to being named Global Retail Bank of the Year for the second consecutive year, RBC was shortlisted in two other categories including North American Retail Bank of the Year and Best Branch Strategy.
“RBC outperformed its global peer group for the second year by delivering outstanding results in a variety of key measures, including return on equity, profit before tax per FTE, efficiency ratio, and loan to deposit ratio,” says Douglas Blakey, group editor consumer finance titles at London-based Timetric. “And these results have produced impressive returns for stockholders, with a 23% per year total shareholder return, and a 37% increase in quarterly dividends over the last three fiscal years.”
RBC is the only Canadian bank to capture RBI’s top honour, and the only North American bank to earn the distinction two consecutive years in a row, an unprecedented achievement in a competition that attracted close to 400 nominations from the world’s most successful banks.
“We’re truly proud and honoured to be recognized on the world stage for another year of exceptional commitment to our clients, shareholders and communities,” says Dave McKay, RBC president & CEO. “This award is a direct reflection of the dedication and passion of all our retail employees.”
This year’s RBI awards program marks the fourth year in a row that RBC has been among the most recognized banks. Prior to winning Global Retail Bank of the Year in 2014 and again this year, RBC was named Best Retail Bank in North America in 2012 and 2013. In the history of the RBI Awards, no other Canadian bank has ever achieved this level of international recognition.