RBC plans to launch a new Canadian growth fund with an investment capacity of up to $1 billion to support domestic companies in building and scaling their operations within Canada. RBC CEO Dave McKay announced this initiative at the bank's annual general meeting, addressing the common challenge Canadian entrepreneurs face in securing sufficient capital for growth. The bank also intends to expand its workforce and capabilities in critical sectors such as defence, infrastructure, and project finance, while assisting Canadian businesses in their international expansion efforts. This move aligns with RBC's projection that Canada requires $1.8 trillion in capital over the next decade for major projects and economic advancement, noting a recent surge in foreign direct investment.