RBC Teams Up With NCTR on First Truth and Reconciliation Week


Royal Bank of Canada (RY), the second-largest bank in Canada, and The National Center for Truth and Reconciliation (NCTR) announced Wednesday the exclusive sponsorship for Truth and Reconciliation Week 2021. This sponsorship follows RBC and NCTR’s collaboration for last year’s legacy event, Every Child Matters.

This year, the Every Child Matters program is upgrading from a day to a full week of online educational programming, from September 27 to October 1, for grade 5 to 12 students across Canada. Truth and Reconciliation Week 2021 will be an opportunity to continue the discussion on the truths about the Métis and Inuit land claims, First Nations treaties, and the residential school system in the days leading up to Orange Shirt Day. Plus, a newly legislated National Day for Truth and Reconciliation will take place on September 30.

RBC representative Dale Sturges, National Director, Indigenous Banking said, “At a time when Indigenous youth are stepping forward with bold ideas to shape the future, we continue to encounter painful reminders that generations of Indigenous youth never had that opportunity. We know that Indigenous youth are at the forefront of reconciliation, so we are determined to listen to them, and be guided by their perspectives so we can offer our help and partnership. By partnering with NCTR, we affirm our commitment to the reconciliation journey by ensuring these experiences are heard to generate meaningful change that will benefit the people and communities of Canada as a whole.”

In addition to online and broadcast programming, age-appropriate classroom resources and activities will be offered to help educators discuss sensitive topics with their students. (See Royal Bank of Canada chart analysis on TipRanks)

On Tuesday, National Bank Financial analyst Gabriel Dechaine kept a Buy rating on RY while raising its price target to C$140.00 (from C$137.00). This implies 9.7% upside potential.

The Street is cautiously optimistic on RY with a Moderate Buy consensus rating based on 6 Buys and 3 Holds. The RY average analyst price target of C$134.76 implies 5.5% upside potential to current levels.

TipRanks’ Smart Score

RY scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.

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