Company Announcements

The bank thanks 400+ First Nations, Inuit and Métis communities, employees and business owners who shared their insights to help inform RBC's Reconciliation Action Plan and journey forward

TORONTO , June 20, 2025 /CNW/ - Today, Royal Bank of Canada (RBC) published its Reconciliation Action Plan: Pathways to Economic Prosperity – a strategic framework outlining the bank's measurable, long-term commitment towards reconciliation and plans to address the Truth and Reconciliation Commission of Canada'sCalls to Action 92¹ for Corporate Canada. Building on RBC's longstanding history² of working with Indigenous communities across Canada, the plan prioritizes the organization's actions and investments across five key pathways – Economy, People, Community, Environment and Leadership – to help drive inclusive economic growth, create positive social change and advance reconciliation.

"At RBC, we believe that long-term Indigenous prosperity is at the heart of a growing economy and thriving society for Canada," said Dave McKay, President & CEO, RBC. "Helping advance reconciliation efforts by collaborating with Indigenous peoples, unlocking more opportunities for Indigenous participation, and creating greater access to capital will be critical to boosting Canada's long-term competitiveness. Our bank is deeply committed to doing more and working with Indigenous communities across Canada to help deliver on this ambition."

Building upon the foundational progress RBC has made over the last several decades, the bank re-imagined the mandate of its Indigenous Banking team and leadership to transform its approach to Indigenous collaboration. Last year, RBC appointed Chinyere Eni, a commercial banking executive, a member of Little Pine First Nation (Cree) and a second-generation Nigerian (Igbo) to help shape RBC's Indigenous strategy for the future. In May 2024, RBC Origins was launched, along with a new Truth and Reconciliation Office led by Brittanee Laverdure, a member of Liard First Nation (Kaska Dena). The team grew with net new leadership mandates covering Transaction Advisory Services, Human Rights, Regional Banking, Strategy and Portfolio Initiatives. Today, these mandates are led by team members who bring decades of collective experience working directly with Indigenous communities.

In collaboration with Phil Fontaine, Special Advisor to RBC and former three-term National Chief of the Assembly of First Nations, RBC Origins aims to bring to life one of the guiding principles of RBC's Purpose Framework – Ideas for People and Planet™ of advancing human rights and reconciliation. The bank is committed to doing so by strengthening the intersection of its work holistically across RBC's Indigenous banking, sustainability, and human rights strategies. RBC has also evolved its strategy and community engagement model to build trust-based relationships and amplify Indigenous voices to help steward the next chapter of the bank's reconciliation journey.

Chinyere Eni, Head, RBC Origins notes: "Many of the 1.8 million Indigenous Peoples in Canada³ continue to live at the periphery of economic well-being. Creating meaningful change that will last for generations requires a focus on scalable systemic approaches to Nation-to-Nation building, enhancing Indigenous access to capital, fostering financial and community well-being, and creating opportunities to empower the next generation of Indigenous talent, entrepreneurship, sustainable development and innovation."

Reconciliation actions rooted in a spirit of collaboration
The reconciliation journey requires deliberate and sustained efforts toward responsible and respectful practices. As such, RBC's Reconciliation Action Plan serves as the foundation for effective implementation, continuous measurement and monitoring, and transparency.

"Developing this plan has been a meaningful journey unto itself. There's been a tremendous mobilization of leadership, talent and engagement within RBC and the process has served as an important catalyst to transform the way the bank intends to engage with Indigenous communities going forward," Fontaine adds.

To help ensure that an effective methodology was in place to generate candid feedback, RBC Origins collaborated with lead agency, BOOM InterTribal, an Indigenous-owned and -led strategic and creative partner. BOOM engaged Archipel Research & Consulting to solicit insights and ideas from more than 400 Inuit, First Nations and Métis communities, employees and business owners across Canada. These insights helped inform the bank's strategic priorities and investments across five pathways:

• Economy: To contribute to the prosperity of Inuit, First Nations, and Métis communities through tailored advice, programs and financial solutions aligning to The RBC^® Inclusive Opportunities Blueprint.
• People: To be an employer of choice for Métis, First Nations and Inuit talent and to foster a supportive environment across Canada to help shape the future of RBC.
• Community: To promote the well-being and economic growth of Inuit, Métis and First Nations communities by supporting the areas of greatest needs impacting Indigenous communities.
• Environment: To advance environmental stewardship efforts and sustainable practices aligned with the RBC^® Climate Blueprint.
• Leadership: To advance reconciliation through greater leadership, governance, transparency and accountability across RBC's Canadian operations.

Launching on the eve of National Indigenous Peoples Day and the summer solstice, the Reconciliation Action Plan is guided by the theme of 'Celestial Cycles'–a creative concept by BOOM InterTribal to reflect the cycles long used by Indigenous Peoples to navigate movement and decision-making. The concept mirrors RBC's own journey of reflection, continuous learning and evolution, guided by its Purpose. Emily Kewageshig, an Anishinaabe artist and storyteller from Saugeen First Nation No. 29 visually brought this to life in a way that honours the past while inspiring the future throughout the report.

RBC's Reconciliation Action Plan will be reviewed in 2027 to evaluate the bank's progress, with subsequent biennial updates. RBC looks forward to continued progress and anticipates announcing an update later this summer related to the Economy pathway of its Reconciliation Action Plan.

To learn more about RBC Origins and RBC's Reconciliation Action Plan, visit www.rbc.com/indigenous.

Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation, with respect to RBC's Reconciliation Action Plan. For cautionary statements relating to the information in this press release, refer to the "Caution Regarding Forward-Looking Statements" section in RBC's Reconciliation Action Plan.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.

^® Registered Trademarks of Royal Bank of Canada.

For media inquiries, contact:
Lara Banlaoi, RBC Corporate Communications

For general inquiries for RBC's Truth & Reconciliation Office, contact:
rbcoriginstro@rbc.com

For general inquiries related to RBC Origins, client solutions and strategic collaborations, contact:
rbcorigins@rbc.com

SOURCE RBC Royal Bank