SKN | RBC Leads Canada’s Big Five Banks in Retail Customer Satisfaction for Third Consecutive Year

Key Takeaways

• RBC ranked highest in customer satisfaction among Canada’s Big Five retail banks for the third consecutive year, according to the JD Power 2026 Canada Retail Banking Satisfaction Study.
• The bank achieved an overall satisfaction score of 619, nine points above the Big Five average of 610, and ranked first across all seven dimensions measured.
• Improvements in digital channels, account offerings and service convenience highlight the role of customer experience in retail banking competitiveness.

RBC Maintains Its Position in Retail Banking

Royal Bank of Canada (RBC) has been named the highest-ranked institution for customer satisfaction among Canada’s Big Five retail banks for the third consecutive year and the fourth time in five years, according to the JD Power 2026 Canada Retail Banking Satisfaction Study.

RBC recorded an overall satisfaction score of 619, compared with the Big Five average of 610. The bank’s score improved by eight points, exceeding the industry’s average gain. It also ranked first among the five largest Canadian retail banks across all seven dimensions evaluated in the study.

The results indicate that RBC continues to perform strongly across several aspects of the customer relationship, including trust, product suitability and access to banking services. These factors are relevant to the competitive position of large retail banks, where customers increasingly evaluate institutions through a combination of digital convenience, service reliability and the perceived relevance of their accounts.

Trust and Digital Access Support Performance

RBC’s strongest relative advantages were reported in three areas: level of trust, account offerings meeting customer needs, and the ability to bank when and how customers prefer. The bank also maintained strengths in digital channels and account offerings.

The study identified further improvements in online chat, new account opening, products and fees, and convenience. These results suggest that customer satisfaction is influenced not only by the availability of digital services but also by the ease with which customers can complete routine banking activities and resolve issues.

RBC said it aims to place clients at the centre of its operations, spanning online account opening, digital interactions and in-person advisory services. The bank also credited its teams across Canada for supporting that approach.

For retail banking institutions, consistent service delivery across digital and traditional channels remains an important operational consideration. Digital tools may simplify customer interactions, but their effectiveness also depends on the quality of problem resolution, product design and the ability to meet different customer requirements.

Study Methodology and Competitive Implications

The JD Power 2026 Canada Retail Banking Satisfaction Study was based on responses from 14,038 retail banking customers. Participants were surveyed in two waves, conducted between January and February and between July and August 2026.

The findings provide a snapshot of customer perceptions across the participating retail banking market. While RBC’s ranking establishes a relative advantage within the Big Five group, the study results presented in the announcement do not provide sufficient detail to determine how satisfaction scores translate into customer retention, deposit growth or profitability.

For financial institutions, the broader strategic issue is whether improvements in customer experience can be sustained while managing technology investment, service costs and evolving customer expectations.

Closing Insights

RBC’s latest ranking reinforces its position in customer satisfaction among Canada’s largest retail banks. Its performance across trust, account suitability and digital access suggests that a consistent customer experience remains a meaningful point of differentiation in a mature banking market.

The longer-term significance will depend on whether the bank can maintain these advantages while adapting to changing service expectations and controlling the operational demands of a multichannel banking model. For the wider sector, the results underscore the importance of aligning digital investment, product design and customer support with measurable service outcomes.

For a confidential discussion regarding retail banking strategy, insurance distribution models, customer loyalty ecosystems, digital financial services, or cross-border financial innovation opportunities, contact our senior advisory team.