January 22, 2015
Royal Bank of Canada recognized as ‘Best Trade Finance Bank in Canada’
Toronto, ON-- Royal Bank of Canada (RBC) has been named ‘Best Trade Finance Bank in Canada’ for 2015 by Global Finance magazine for the third consecutive year. This highlights RBC's continued commitment to the Trade Finance business and the support of our exporting and importing clients and of the many RBC trade specialists and support staff who work together to serve their needs.
Award recipients are selected by the editors of Global Finance magazine based on input from industry analysts, corporate executives and technology experts around the world. A poll of the magazine's readership was conducted to increase the accuracy and reliability of the results.
Specialized Trade Finance professionals work collaboratively across Transaction Banking within RBC Investor & Treasury Services and RBC's Business Financial Services teams, providing advice and tailor made solutions to commercial, corporate and correspondent bank clients to help make them competitive and successful in the marketplace. This unified approach helped result in RBC being named Best Trade Finance Bank in Canada for the third year in a row.
"We are honoured to receive this prestigious award," said Mary Ellen Brown, vice-president Deposits and Trade Services, RBC. "This award recognizes the commitment and expertise clients receive from our global team, as well as our highly collaborative approach to working closely with our partners across RBC to provide exceptional service and personalized solutions to our Trade clients."
"RBC is the bank of choice for correspondent banks with offices in Canada as a result of our ability to offer clients access to RBC's solid infrastructure and branch network as well as the knowledge and understanding of foreign markets, technical expertise and strong client focus provided by our Banks, Brokers and Exchanges team. We thank our clients for their support," said James Rausch, head of Transaction Banking - Banks, Brokers and Exchanges, RBC Investor & Treasury Services.
RBC Investor & Treasury Services is a leader in Canadian clearing, cash management and trade finance for financial institutions worldwide. It is the largest provider of custody in Canada, with just over 40 per cent of assets under administration, and a leader in correspondent banking services. RBC Transaction Banking has a leading market share among Canadian banks for export letters of credit coming into Canada, and is used by 80 per cent of the world's top 20 banks for standard settlement in CAD.
RBC, through Business Financial Services, offers a wide range of lending, leasing, deposit, investment, foreign exchange, cash management and trade products and services to small and medium-sized businesses, commercial, agriculture and agribusiness clients across Canada.