Author: Duncan Mcdowall
The Royal Bank became the most skilled practitioner at the art of takeover. “Each acquisition served to fill another gap in his jigsaw of national expansion. Each piece brought a special regional advantage – greater reach into western farming communities, a fuller blanket of urban branches, or service to special niches in the economy.” CHAPTER FOUR: GROWTH THROUGH AMALGAMATION 1908-1925” PG 158. It was the first Canadian bank to reach assets of one billion dollars, to install a computer and to open a full service branch in Shanghai China. It was the only major bank to be listed in the first issue of “ The Financial Post’s 100 Best Companies in Canada. They also encouraged employees to share in the bank’s profits. In 1985 The Royal Employee Savings and Share Ownership Program was introduced. By the early 1990s, 85 per cent of Royal Bankers owned shares in their own bank. The segmented market resulted in the objective retail banking to provide a “cradle – to – grave” strategy. Tailor suited to saving, spending, investing and retirement needs throughout an individuals life cycle. Besides being educational and witty, this book also contains many photos from the late 1800s through to the nineties.