We understand the reasons, of course. Royal Bank of Canada is no longer royal, a bank, nor strictly Canadian. In becoming a diversified fin serve company, the organization understandably moved to an RBC-dominated brand architecture. Similarly, Bank of Montreal puts BMO in front of its businesses, and all Toronto Dominion names begin with that brusk and ubiquitous TD. The practice accommodates non-bank services and each institution's proper role in the world's capital markets.
But at what cost? One casualty is promotion of Canada as a brand. That vast, cold, sparsely populated nation has a rich culture and history. Its spirit of nationalism fends off Yankee encroachment and waxes and wanes amid the internal tensions of a bi-cultural society. What better way to carry the nation's brand across the continent and globe than in thousands of financial facilities and via millions of financial transactions?
Instead of being reminded of Canada, the world sees RBC, TD, BMO and CIBC. Only Scotiabank's brand projects the flavor of its native land (originally Bank of Nova Scotia)... and the heritage of being a bank.
Banks do – have done – will do – a lot of good in the web of commerce. It's not bad to have "bank" in your name. Or America. Or New York. Or Montreal. Or Canada.