Royal Bank of Canada (RBC) is Canada's largest bank, serving over 19 million clients across Canada, the U.S., and 27 other countries. RBC operates five segments: Personal Banking, Capital Markets, Wealth Management, Commercial Banking, and Insurance. Personal Banking — the largest segment by net income — offers deposits, mortgages, credit cards, and personal loans to Canadian consumers through branches, digital channels, and call centers. Commercial Banking provides lending and transaction banking to small businesses and mid-market clients. Wealth Management serves high-net-worth and ultra-high-net-worth clients through investment advisory, private banking, and asset management, with RBC Global Asset Management overseeing over $794B in AUM and total wealth AUA of $2.3T. Capital Markets provides investment banking, trading, and M&A advisory to corporate and institutional clients, with a leading position in Canada and a growing global presence. Insurance offers life, health, and P&C products to Canadian clients and operates in global reinsurance. RBC earns money through net interest income — borrowing via retail deposits and lending at higher rates — and fee income from wealth management, capital markets, and insurance. RBC's key growth priorities include integrating HSBC Canada, acquired in 2024, with targeted cost synergies of $740M; expanding City National Bank in the U.S. for HNW clients; and deploying proprietary AI tools across the enterprise, targeting $700M–$1B in enterprise value from AI investments.