Royal Bank of Canada is expanding its services to include a cash-management business in Canada, a strategic move aimed at further meeting the needs of its clients and enhancing its relationship with them. The bank, which is Canada’s largest, has not previously provided treasury and liquidity-management services to its clients in the US despite working closely with them on various financial services.
CEO Dave McKay hinted at the bank’s plans to introduce these services during investor calls, and the official announcement was made on Tuesday. The new services, called RBC Clear, are specifically tailored for Fortune 1000 companies, offering them comprehensive treasury and liquidity-management solutions. This expansion reflects the bank’s commitment to growth and innovation in meeting the evolving needs of its clients.
RBC Clear aims to provide corporate clients with a more holistic financial solution by establishing itself as a trusted partner in the industry. By offering these new services, Royal Bank of Canada is poised to strengthen its presence in both Canada and the US while delivering value-added services that solidify its position in the market. With RBC Clear, the bank will capture a larger share of its clients’ spending and further establish itself as a leader in financial services for large corporations.