RBC makes $100-million charitable pledge
TORONTO - Canada's largest bank says it's committing itself to provide $100 million in donations over five years to improve the well-being of childen and youth.
The RBC Believe in Kids Pledge will consolidate the bank's current support for children's causes and provide funding for new programs.
Royal Bank (TSX:RY) says the initiative will include $25 million for new, multi-year programs to be unveiled in the next few months.
That includes $4.6 million in additional charitable grants for its children's mental health project, which was launched in 2008.
It's also continuing a program for after-school activities that began in 1999, with a $2.8 million commitment over the current school year for 106 programs.