RBC is offering a report on its economic impact in this country - a bottom line enhanced by its move to make Nassau the regional head office.

That decision, effected in 2003 may reflect on how important the country is to the bank's financial position.

RBC counts as many as 150,000 Bahamians as clients - a number representing 50 percent of its customer base for the Caribbean region. But other factors also play a role in making it the only international player to set its regional head office in this country.

"The largest percentage of our business in the Caribbean and region is in The Bahamas," said RBC Country Head Nathaniel Beneby. "Also our proximity, the level of technological know-how, knowledge and automation make it the right decision to have the headquarters here.

"It is also the oldest market for RBC in the region."

Like most banking institutions, RBC is increasingly interested in showing its relationship with customers is a two-way street. A competitive banking industry has forced even conservative institutions now to toot their own horns, an attempt to keep loyal clients and attract new ones.

In the case of RBC, its newly released 2006 Caribbean Community Report offers impressive support for that effort.

In addition to inventorying a slew of philanthropic activities, focused around education, health and social services, the study gets down to business.

In 2006, the bank's purchase of goods and services in The Bahamas exceeded $10.8 million, from suppliers of all sizes. That's more than double what was shelled out in Barbados another important market for RBC.

~~Adz:Left~~ The report also points to some 705 employees in this country, compared to 332 in Barbados and 76 in the Caymans - its number two and three markets respectively. Here the Canadian bank forked out $30.5 million in compensation and benefits to workers last year, with about 88 percent of them participating in share ownership programs.

It's the quality of many of those jobs in The Bahamas - namely their place in the corporate pecking order - that may separate RBC from other regional players operating in this country but headquartered elsewhere. 

"One of the principle benefits to us being headquartered here is that many Bahamians (working for us ) have been able to achieve regional leadership roles - employment with regional responsibilities,"

said Beneby, pointing to other Bahamian heads for the regional departments of PR, marketing, compliance and human resources.

Chief financial officer for the bank in the Caribbean, Larry Wilson, is also from The Bahamas.

"For the first time, we have a Bahamian - Toure Holder - as a country head for St. Kitts." said Beneby. "We would like to think that we are positioning Bahamians to compete not only in The Caribbean, but globally."

The success of those RBC executives may help counter concerns about Bahamian competitiveness, sprung up around discussion of Bahamian membership in CARICOM.

But the report suggests we may increasingly hold the upperhand.

Last year, about $106,053 went toward training programs for RBC employees in this country, while $125,245 was earmarked for a relatively smaller group scattered across five eastern Caribbean countries.

There's a good reason for the difference, argues Beneby.

"The Bahamas is more advanced in training and development," he said. "So great focus is being given to the other jurisdictions for the advancement of staff in those areas."

The numbers may also hint at the bank's future expansion, with its Bahamian team actively planning for its entry into new markets across the Caribbean.

RBC now operates outside of the region's two largest centers: Jamaica and Trinidad and Tobago.

But future growth isn't likely to dislodge head operations from a market RBC has served for nearly a century. Next year, in fact, marks its 100th anniversary in this country.

"Royal Bank enjoys its headquarters being here," said Beneby, "and there is no reason for us to leave."