RBC opens third agency bank to provide increased access to financial services for Nunavut's Inuit communities

Located in Kinngait, Nunavut, the agency will provide basic banking services and advance RBC's commitment to economic reconciliation for Indigenous peoples

TORONTO, June 10, 2021 /CNW/ - Royal Bank of Canada ("RBC") today announced that it has opened a RBC Royal Bank agency outlet in the Inuit community of Kinngait, Nunavut. The third of its kind in Nunavut, the agency will provide the residents of Kinngait with increased access to key financial services, and easier and more convenient ways to access basic banking services in their home community.

The agency, which officially opened on June 7 in collaboration with the West Baffin Co-operative, is offering banking services at the Co-operative's location in the heart of Kinngait. Through the agency, residents are now able to open a bank account, make deposits and withdrawals, and get financial advice through the RBC branch in Iqaluit. In addition to these services, the West Baffin Co-operative will further offer cheque cashing and bill payment on-site. Kinngait community members will also have full access to RBC's digital and online banking services through the agency or their personal internet access, once they open an account with RBC.

"We're pleased to be able to bring RBC services to Kinngait, and to be able to further engage with local residents and community members through the agency at West Baffin Co-operative," says Iqaluit Commercial Account Manager Kyle Sheppard. "Especially in remote Inuit communities, the impact of agencies like the one in Kinngait truly goes beyond banking. Not only does it provide convenient and affordable access to financial services to residents who would otherwise have to travel extensively to reach such services, but it also offers an important touchpoint for members in the community."

The addition of the Kinngait agency builds upon RBC's network of three existing branches in Nunavut, and fulfills the bank's commitment to opening three new agency banks in the region's remote communities by 2021. In 2018, the bank opened its first agency in Arviat, an Inuit hamlet in the Kivalliq Region of Nunavut, followed by a second agency in October 2019 in the Inuit community of Pangnirtung.

"This agency is one of many ways we are working to better serve Inuit communities, and to activate RBC's commitment to reconciliation," adds Dale Sturges, National Director, Indigenous Financial Services Group, RBC. "We know that access to capital and financial services is one of the key building blocks needed to help people succeed, businesses grow, and to create equal opportunities and shared prosperity for the community."

For more information on RBC's strategy to advance Indigenous inclusion and prosperity, please visit www.rbc.com/indigenous.

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 86,000+ 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 17 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/community-social-impact.

About RBC Indigenous Financial Services Group
For more than 100 years, RBC has been building strong relationships with First Nations, Inuit and Métis communities across Canada. We are committed to serving Indigenous governments, communities, organizations, businesses and individuals by creating opportunities for sustainable economic development through access to banking and capital, community and social development, employment, education and training and procurement. RBC also provides donations and grants that support Indigenous interests. More information is available at www.rbc.com/indigenous.

SOURCE RBC Royal Bank