Texas is on RBC's map to grow its City National Bank unit

August 27, 2026 - 21:27

Royal Bank of Canada is setting its sights on Texas as a key market for expanding its City National Bank subsidiary. Senior executives at the Toronto-based lender said they see strong organic growth potential in the state, though they did not rule out using acquisitions to speed things up if the right opportunity comes along.

The comments came during a recent investor presentation where RBC leadership outlined its U.S. strategy. City National, which RBC acquired back in 2015, has traditionally been strongest on the West Coast, with a big presence in California and New York. But the bank has been quietly building out its footprint in Texas over the past few years, and executives now say that push is becoming a bigger priority.

According to the bank's management, Texas offers a mix of favorable demographics, a booming economy, and a steady influx of businesses and wealthy individuals relocating from other parts of the country. That aligns well with City National's focus on commercial banking, entertainment lending, and wealth management for high-net-worth clients.

While RBC is clearly committed to growing City National organically, the executives also acknowledged that they are open to bolt-on deals that could add scale or bring in specialized talent. They stressed that any acquisition would need to make strategic sense and fit within the bank's risk appetite.

The U.S. market remains a major growth engine for RBC, and Texas is now firmly on the map as part of that story. The bank has not disclosed specific targets or a timeline for further expansion, but the message is clear: Texas is a place where they intend to play bigger.