So far, RBC has processed more than 250,000 requests for deferrals of payments on mortgages and other loans.Royal Bank of Canada has retrained hundreds of staff to build custom financial relief plans for personal banking clients who are in the most severe financial stress caused by the economic fallout from the new coronavirus.
But the bank is now turning its attention to its next phase of customer support. Over the past two weeks, RBC has retrained around 200 staff who normally adjudicate new loan applications and redeployed them to help create tailored relief plans for clients who have been hit hardest by the crisis.
“Where do we go from here? That’s something I think we’re probably still working through," he added."What does it feel like two months from now and three months from now?” Efforts to roll out relief programs have been complicated by the large numbers of bank staff working remotely, and extra measures put in place at branches that have stayed open to meet health guidelines. About 77,000 of RBC’s 85,000 employees are working from home. But 9,000 staff are still in branches, where the number of clients entering is controlled, plexiglass screens are being installed, and deep cleaning is happening twice as often.
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