City National Bank net worth is a key measure of its financial strength, driven by significant assets, growing deposits, and strong financial performance.
With Ando Money, we’ll dive into the numbers, exploring everything from total assets to loans and wealth management services, giving you a complete picture of their 2024 outlook.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | City National Bank |
| Full Name | City National Bank of California |
| Traded as | N/A |
| ISIN | N/A |
| Founded | 1954 |
| Founders | Alfred S. Hart |
| Country/Territory | United States |
| Headquarters | Los Angeles, California |
| Chief Executive Officer | Kelly Coffey |
| Number of Employees | N/A |
| Market Cap | $0.51 Billion (as of September 2024) |
| Total Assets | $93.72 Billion (as of January 2024) |
| Total Equity | N/A |
| Revenue | N/A |
| Net Income | N/A |
What is the Net Worth/ Market Cap of City National Bank in 2024?
As of September 2024, City National Bank has a market capitalization of $0.51 billion.
This positions the bank in a competitive tier within the financial services industry, although significantly smaller than some of its global competitors.
The market cap of City National Bank is a reflection of its growth over the years, primarily driven by its assets, loans, and customer deposits.
However, in comparison to other prominent banks in the U.S., its market cap indicates that it operates on a more specialized scale.
Here are a few other banks for comparison:
For more insights into the financial performance of some of the largest banks worldwide, check out our detailed analysis of the largest global financial institutions.
Financial Performance Overview
City National Bank’s financial performance in 2024 has been a mixed bag of both growth and challenges. A primary driver of its revenue is its total assets, which stand at $93.72 billion as of January 2024.
The bank’s assets have grown steadily, reflecting its focus on providing personal, business, and wealth management services to a diverse range of clients.
Deposits and Their Contribution to Revenue
The deposits held by City National Bank play a crucial role in its revenue generation. As of January 2024, the bank has $74.98 billion in deposits.
This represents a notable increase from the previous year, where deposits were valued at $73.89 billion. The bank utilizes these deposits to fuel lending operations, which provide a stable stream of interest income.
By managing and growing its deposit base, City National Bank has ensured consistent financial returns, even in a competitive banking environment.
Loans and Leases: A Critical Revenue Stream
Another key contributor to City National Bank’s financial health is its portfolio of loans and leases, totaling $64.02 billion as of January 2024.
Lending continues to be a significant driver of revenue, with the bank issuing loans to businesses, individuals, and other entities.
However, a slight drop from $65.52 billion in the previous year suggests a focus on managing risk and maintaining credit quality in uncertain economic times.
Assets Under Management (AUM): Driving Profitability
City National Bank also manages significant client assets through its wealth management division.
In 2024, its Assets Under Management (AUM) were reported at $68.85 billion, a growth from $62.56 billion in the previous year.
These assets contribute to the bank’s profitability by generating fees from wealth management services, which are highly valued by high-net-worth individuals and businesses.
The increasing AUM highlights the bank’s commitment to offering specialized services tailored to its clients’ financial needs.
Capital Ratios and Financial Stability
Maintaining strong capital ratios is essential for the bank’s long-term stability. As of December 31, 2023, City National Bank’s common equity Tier 1 ratio stood at 14.15%, significantly exceeding regulatory minimums.
This solid capital base ensures that the bank is well-prepared to absorb potential losses while continuing to grow its operations.
Regulatory compliance, particularly under Basel III standards, has allowed City National Bank to secure investor confidence, further enhancing its financial health.
Credit Ratings: A Measure of Strength
The credit ratings assigned to City National Bank by leading agencies such as Moody’s (A2), S&P (AA-), and Fitch (A+) are a testament to the bank’s financial strength.
These ratings reflect the bank’s ability to meet its financial obligations and remain resilient in times of economic downturn.
Maintaining high credit ratings not only strengthens the bank’s market position but also reduces borrowing costs, improving overall profitability.
Sponsorships and Partnerships: A Strategic Revenue Source
City National Bank’s involvement in high-profile sponsorships, such as its association with the Tony Awards, Vegas Golden Knights, and Los Angeles Clippers, has enhanced its brand visibility.
These partnerships bring in indirect revenue by fostering a strong public image and attracting high-net-worth clients.
By aligning with prestigious cultural and sports events, the bank taps into new markets and reinforces its reputation as a reliable and trustworthy financial institution.
Support from Royal Bank of Canada: Strengthening Financial Growth
As a subsidiary of the Royal Bank of Canada (RBC), City National Bank benefits from the extensive resources of its parent company.
RBC’s strong capital position, with over CA$2 trillion in assets, provides City National Bank with liquidity support and financial stability.
This relationship enables City National Bank to expand its operations, offering a broader range of services and maintaining a competitive edge in the U.S. banking sector.
FAQs about City National Bank
What is the total asset value of the bank?
As of January 2024, it holds $93.72 billion in total assets. This drives revenue through deposits, loans, and wealth management.
How much are the bank’s deposits?
Total deposits reached $74.98 billion in January 2024. These deposits support lending and investment activities.
What is the bank’s credit rating?
As of February 2024, it holds an A2 rating from Moody’s and an AA- from S&P. These ratings reflect financial stability.
How does the bank generate revenue?
It generates revenue through loans, deposit interest, and wealth management. Loans were valued at $64.02 billion in January 2024.
Who is the CEO of the bank?
It is led by Kelly Coffey, serving as CEO since 2019.
What is the bank’s assets under management?
In January 2024, it managed $68.85 billion in assets. This reflects the strong trust from its wealth management clients.
Where is the bank headquartered?
It is headquartered at City National Plaza, Los Angeles, California.
Does the bank have a relationship with Royal Bank of Canada?
Yes, it is a subsidiary of Royal Bank of Canada, acquired in 2015.
What is the bank’s capital ratio?
As of December 2023, it has a common equity Tier 1 ratio of 14.15%, exceeding regulatory requirements.
Does the bank offer sponsorships?
Yes, it sponsors events like the Tony Awards and the Vegas Golden Knights.
Conclusion
City National Bank’s 2024 financial performance shows solid growth in assets and deposits.
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