RBC commemorates 100 years in Caribbean with major contributions
to childrens cancer treatment and clean water
PORT OF SPAIN, September 16, 2008 — To recognize
RBC's century-long roots in the Caribbean and to celebrate
its future ties with Caribbean communities, RBC Caribbean
and RBTT today announced a multimillion-dollar commitment
to the health and environmental sustainability of the region.
Gordon M. Nixon, president and CEO of RBC, made the announcement
during a midday meeting in Port of Spain with the Prime Minister
of Trinidad and Tobago, Patrick Manning.
RBC plans to establish a Caribbean Children's Cancer Fund,
which will be funded with US$1 million during the next five
years, with an initial contribution of US$200,000. The remaining
US$800,000 will be disbursed annually. RBC/RBTT will also
launch a Caribbean-wide drive to raise an additional US$4.1
million during the same period to contribute to the fund.
Royal Bank Group will collaborate with the Cancer Treatment
Foundation, a charity chaired by double world-record-breaking
cricketer Brian Lara, in its efforts to provide financial
support for cancer treatment in children below age 16.
"I am very encouraged by the possibilities that this
partnership with a global corporate citizen like RBC/RBTT
creates in the fight to help our children beat cancer,"
Nixon explained the rationale behind the choice of charity.
"Hundreds of children throughout the Caribbean are battling
some form of cancer," he said. "We believe strongly
that we have a chance to help children across the region overcome
this dreaded disease and create better futures for them, through
the work that will be done as a result of this fund and its
Nixon also announced a US$250,000 contribution to the Caribbean
arm of the Global Water Partnership's Institute for Public
Health and Water Research. The funds will support a pilot
project in Trinidad and Tobago to educate students in rural
communities on water harvesting, water conservation, and flood
abatement. This initiative is part of the RBC Blue Water Project,
the company's global effort to support the protection of fresh
"Water is the world's most precious resource,"
said Nixon. "Ensuring that this region's communities
have access to fresh water is an important challenge, and
we hope the work resulting from this donation will be a step
toward enhancing the quality of life in some communities."
This is the first donation in the Caribbean under the RBC
Blue Water Project. During the past five years, RBC and RBTT
have contributed more than US$12.5 million to various organizations
and community initiatives.
"Everyone at RBC is very proud of our 100-year old roots
in the Caribbean, and our goal is to continue to be an integral
part of the region's communities and future prosperity,"
RBC contributed more than US$82.8 million to community causes
worldwide in 2007, through donations of more than US$47.7
million, and an additional US$35.1 million in sponsorship
of community events.
RBC is recognized among the world's financial, social and
environmental leaders. In 2007, RBC was named Canada's Best
Corporate Citizen, and is included on the Dow Jones World
and North American Sustainability Indices, the Jantzi Social
Index, the FTSE4Good Index, and is part of the Global 100
Most Sustainable Corporations ranking. In 2007, Newsweek magazine
ranked RBC first among large corporations worldwide for its
ability to manage environmental risks and opportunities.
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries
operate under the master brand name of RBC. We are Canada's
largest bank as measured by assets and market capitalization
and one of North America's leading diversified financial services
companies. We provide personal and commercial banking, wealth
management services, insurance, corporate and investment banking
and transaction processing services on a global basis. We
employ approximately 75,000 full- and part-time employees
who serve more than 17 million personal, business, public
sector and institutional clients through offices in Canada,
the U.S. and 46 other countries. For more information, please
On June 16, 2008, RBC completed the acquisition of RBTT, a
financial institution that offers the full range of banking
services across the Caribbean.
RBTT operates in 12 jurisdictions, including
Trinidad and Tobago, Jamaica, Barbados, Suriname, and the
Eastern and Dutch Caribbean, serving 1.2 million clients through
a network of 83 branches and 230 ATMs.
In addition to personal banking, RBTT's
services include investment banking, trust and asset management,
wealth management, project financing, securities trading and
stockbroking. We also offer insurance, mutual funds, credit
cards, and electronic banking.
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hi-res JPG, 350kB] President and CEO of RBC Gordon
M. Nixon (left) chats with Prime Minister of Trinidad
and Tobago, Patrick Manning. During a courtesy call to
the Prime Minister's office on Tuesday, Nixon announced
RBC's plans to contribute more than US$1 million to a
Caribbean Children's Cancer Fund and US$250,000 to a water
project in Trinidad and Tobago to educate students in
rural communities on water harvesting, water conservation,
and flood abatement. RBC is recognized among the world's
financial, social and environmental leaders.
For further information, please contact:
Beja Rodeck, RBC, Media Relations, (416) 974-5506