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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, creating employment, supporting small
business and economic development, fostering innovation and
entrepreneurship, and purchasing responsibly.
Our priorities include ensuring that we:
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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