Member Milestone - RBC Royal Bank celebrates 50 years

Date ArticleType
1/6/2015 Member News

January 12, 2015 marks the 50th anniversary of RBC Royal Bank in Timmins.  Keith Labine, RBC Royal Bank's Community Market Manager, took a few moments to answer a few questions about the bank.

Provide a brief description of your business.
Financial Institution.

How many employees do you have?
19 staff at the Timmins branch and approximately 80,100 employees worldwide.

What factors have helped you to successfully reach this particular milestone?
Corporate branding, strength and our client loyalty.

What has been your most memorable moment in business?
Giving back to Canadian communities. RBC is a key sponsor of many events, community programs, and charities. One percent of RBC's average annual net income before taxes is set aside for charitable partnerships via the arms-length RBC Foundation.

RBC is a major sponsor of numerous cultural events, including the Toronto International Film Festival. It also sponsors the RBC Taylor Prize, a literary award for non-fiction writing in Canada, and hosts a yearly Canadian Women Entrepreneur Award.  In July 2013, the RBC Foundation partnered with the University of Toronto to revive the Siminovitch Prize in Theatre, given to recognize achievement in Canadian theatre.

RBC is one of Canada's largest sponsors of amateur sports and is the longest-running Canadian sponsor of the Olympic Games. It employ dozens of top-tier amateur athletes as part-time spokespeople through the RBC Olympians program. RBC is also a major sponsor of Hockey Canada and owns the naming rights to the Canadian national junior 'A' ice hockey championship, the Royal Bank Cup. In addition, it supports Canadian hockey at the grassroots level through the RBC Play Hockey program.

What’s one interesting thing about your business that people might not be aware of?
The bank was founded in 1864 in Halifax, Nova Scotia and serves approximately ten million clients through its network of 1,209 branches. RBC Bank is the U.S. retail banking subsidiary with 439 branches across six states in the Southeast, which served more than a million customers. RBC also has 127 branches across seventeen countries in the Caribbean, which serve more than 1.6 million clients.

What is the biggest challenge you have overcome as a business to reach this milestone?
Staying competitive, adapting and always being on the cutting edge of technology.

What has your experience doing business in Timmins been like thus far?
Great, Timmins really is the city with a heart of gold.

Describe how your business started, and how it’s changed over the years.
Royal Bank opened its first branch in Timmins in the Pierce’s Block building, 250 – 3rd Ave. on January 12, 1965, and was so successful that it quickly outgrew its premises.

Envisioning a new era of economic expansion for the area spearheaded by the arrival of several large corporations, and realizing the benefits of being in the heart of the downtown area, in 1971 the branch moved to the new 101 Mall at the corner of Algonquin Blvd. and Pine Street.

After the branch moved to the mall, business continued to boom and the branch again needed more space. In the late 1970s, the branch was able to acquire additional space adjacent to it which was subsequently incorporated into the existing premises. The renovation and expansion was complete by the summer of 1979.

What can we expect from your business in the future? Are there any plans on the horizon you would like people to know about?
Many more great years.