So how does the Royal Bank look by comparison to the Swiss index? It has moved up from $5 to $72 in about 24 years (not including a dividend of 3 to 5 % along the way!) for a total gain of $67. To make the no-slide-rule-math simple we will call that $64, which then conveniently equals 2x2x2x2x2x2 which means that the stock must have doubled every 4 years (24/6=4). Using the rule of 72 that equates to a return of 72/4=18% over the entire period, compounded.
During this entire period RY benefitted from the reverse take-over of the far better managed Dominion Securities (1987?), the entry into the insurance business and a substantial expansion of the wealth management business. Interestingly it is exactly that which caused the downfall of one or two of the Swiss competitors. From here on it will mostly be less, or less profitable, mortgage business, Basel 3, the Volcker rule and someday, perhaps, a less ironclad oligopoly as Canada attempts to grow up with the rest of the world. All that is left is Janet Yellen.
We just cannot see this continuing much longer. By clicking on the charts you can enlarge them and move them around to make the comparison with the Swiss index more expressive.