RBC Royal Bank of Canada - Timeline

Timeline

• 1864 - Merchants Bank of Halifax founded in Halifax, Nova Scotia
• 1869 - Officially incorporated as the Merchants' Bank of Halifax.
• 1869 - Federal charter received.
• 1870 - 1880s - Expansion in Maritime Provinces.
• 1895 - Expansion in Newfoundland on Jan 31, 1895 post collapse of Newfoundland Commercial Bank and Union Bank of Newfoundland on December 10, 1894
• 1901 - Changed name to Royal Bank of Canada (RBC).
• 1907 - Head Office moved from Halifax to Montreal.
• 1910 - Merged with Union Bank of Halifax.
• 1910 - bank designed by Carrère and Hastings, Winnipeg, Manitoba in 1910 in beaux-arts classicism proclaimes the financial dominance of Winnipeg in the prairies.
• 1912 - Merged with Traders Bank of Canada in order to improve its position in Ontario.
• 1917 - Merged with Quebec Bank, which was founded in 1818 and chartered in 1822 in Quebec City.
• 1918 - Merged with Northern Crown Bank, which was the result of the merger in 1908 between Northern Bank (established in 1905 in Winnipeg) and Crown Bank of Canada (1904), based in Ontario. RBC's acquisition gave it a strong presence in Manitoba and Saskatchewan.
• 1925 - Merged with Union Bank of Canada, which had begun in Quebec City in 1865 as the Union Bank of Lower Canada, but changed its name in 1886. Union Bank of Canada had moved its headquarters to Winnipeg in 1912, and built a strong presence in the Prairie Provinces.
• 1935 - Crown Savings and Loan Co. merges with Industrial Mortgage & Trust Co.
• 1961 - Installed its first computer, which was the first in Canadian banking.
• 1968 - Royal Trust merged with Ontario Loan and Debenture Company (formerly Ontario Savings and Investment Society).
• 1993 - RBC merged with Royal Trust.
• 1998 - proposed merger with Bank of Montreal, rejected by federal minister of finance (see Controversies below)
• 1998 - RBC acquired Security First Network Bank in Atlanta, the first pure Internet bank.
• 2000 - Merged merchant credit/debit card acquiring business with BMO Bank of Montreal's to form Moneris Solutions.
• 2013 - RBC completed the acquisition of the Canadian subsidiary of Ally Bank owned by ResMor Trust.