While many institutions benefitted from higher market volatility and increased hedging demand during the review period, Royal Bank of Canada (RBC) went further. The bank distinguished itself through sustained investment in technology, advisory capabilities and global market access, simultaneously delivering growth across volumes, revenues and client relationships.
The numbers underline the strength of the franchise; investment banking arm RBC Capital Markets grew FX revenue in 2025 by 42% year-on-year, while global trading volumes grew by a quarter.
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