TORONTO, January 17, 2012 RBC and Shoppers Drug Mart today announced that they will be launching a nation-wide program that makes it more convenient for Canadians to bank and earn rewards at Shoppers Drug Mart/Pharmaprix locations throughout the country.
"We are excited to announce the launch of the new RBC Shoppers Optimum banking account and debit card. Canadians trust RBC and Shoppers Drug Mart as industry leaders and, together, we are advancing the banking and retail experience by making financial products and everyday banking more accessible," said Dave McKay, group head, Canadian Banking, RBC. "This is the first step in a new alliance that will make banking more convenient by expanding beyond our branches and providing Canadians with enhanced reward options on everyday spending."
This new program will take effect on March 17, 2012, and will feature a co-branded RBC Shoppers Optimum banking account and debit card with enhanced Shoppers Optimum rewards. Other benefits include unlimited debit transactions in the account, access to Canada's largest combined network of ATM's and branches (including more than 300 new RBC ATMs in Shoppers Drug Mart/Pharmaprix locations) and the ability to convert RBC Rewards points to Shoppers Optimum points. In addition to the banking account and debit card, RBC and Shoppers Drug Mart will introduce a series of co-branded products.
RBC and Shoppers Drug Mart Launch Innovative National Program
"With one of the largest and most popular loyalty card programs in Canada, we are continually focused on developing innovative, high-quality products to offer our Shoppers Optimum program members," said Domenic Pilla, president and CEO, Shoppers Drug Mart. "Aligning with RBC, a trusted leader in banking, allows us to expand upon our current financial services offering, providing our customers with even greater convenience and enhanced rewards."
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are one of Canada's largest banks as measured by assets and market capitalization, and are among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 74,000 full- and part-time employees who serve close to 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 56 other countries. For more information, please visit rbc.com.
About Shoppers Drug Mart Corporation
Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec). With more than 1,200 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the Company is one of the most convenient retailers in Canada. The Company also licenses or owns 60 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec) and eight luxury beauty destinations operating as Murale. As well, the Company owns and operates 63 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services. In addition to its retail store network, the Company owns Shoppers Drug Mart Specialty Health Network Inc., a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and MediSystem Technologies Inc., a provider of pharmaceutical products and services to long-term care facilities in Ontario and Alberta.
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For more information, please contact:
Kerry Gaetano, RBC Communications, (905) 816-5583
Tammy Smitham, Shoppers Drug Mart, (416) 490-2892