Get this. Two years ago, Royal Bank of Canada was the world’s 50th largest bank by market cap. By comparison, it was Canada’s largest bank by market cap (and it still is Canada’s largest bank). But now, post-credit-crisis-financial-meltdown, Royal Bank is the world’s seventh largest bank by market cap! I’ll repeat that.
Royal Bank of Canada is not only Canada’s largest bank, but it is the world’s seventh largest bank by market cap. That means it’s way bigger than even Citigroup.
The fact is that it’s true that Canada’s banks have the best balance sheets in the world right now. So check them out if you want financial exposure and are sick and tired of being dicked around by the offerings south of the border (excuse my language, but the situation really is inexcusable).
One bonus: Royal is trading at a really nice discount right now due to global fears around UK banks and the Bank of American Taxpayers (NYSE: BAC).
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