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Companies both large and small can help shape the economies
of the communities and countries in which they do business
simply through their day-to-day business decisions and actions.
We aim to have a positive economic impact by providing attractive
returns to shareholders, paying our fair share of taxes, creating
employment, supporting small business and economic development,
fostering innovation and entrepreneurship, and purchasing
responsibly.
Small Business and Not-for-Profits
Community Economic Development
Self-Sufficiency
- Employment
- Literacy
- Financial Literacy
- Home Ownership
Economic Growth
- Development
- Partnerships
- Innovation
Aboriginals and Newcomers
Basic Needs
Purchasing
2007 Performance Highlights
- Incurred taxes of $2.09 billion worldwide.
- Provided employment to 71,760 people, with $7.9 billion
in employee compensation and benefits.
- Served more than half a million small business clients
in Canada, the United States and the Caribbean.
- Remained the market leader for women entrepreneurs in
Canada, with a 19 per cent market share.
- Purchased goods and services totalling $4.4 billion from
suppliers of all sizes worldwide.
- Contributed $82.8 million to community causes worldwide.
Issues
- Banks can help stimulate economic activity in less prosperous
communities by providing credit and funding specialized
programs. RBC has programs targeted at low-income groups
to help them in areas such as home ownership, financial
literacy and economic development.
- In the United States, under the Community Reinvestment
Act, we are required to grant a certain amount in loans
to facilitate community development, and to provide access
to banking services for low- to moderate-income groups and
small businesses. RBC Centura meets and, in many instances,
exceeds these requirements.
- Banks can be expected to provide specialized mortgages
and micro-loans for low-income groups to help clients build
home equity or start up micro-businesses. However, the opportunities
must be balanced against the inherent risks associated with
interest rate fluctuations and indebtedness.
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