RBC Day

Rumour became truth on February 4, 1864, when, "after transaction of routine business" at the board meeting of the Union Bank, two directors, John Duffus and Thomas Kinnear, informed President Stairs that they were resigning, "having associated themselves with other gentlemen in the formation of a new Banking Institution." The Merchants Bank first opened its doors in 1864 at 86-8 Bedford Row. The eight merchants opted for the Halifax Banking Company pattern of an unchartered, private bank, unconstrained by any public requirements.

Today Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 16 million clients and has 86,000+ employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains a corporate headquarters in Toronto and its head office in Montreal. RBC is the 9th largest bank worldwide and the 5th in North America, as measured by market capitalization. RBC is among a small group of highly rated global banks and is recognized time and time again for its financial strength, market leadership, and philanthropic work.