RBC Seeks to Bet on New Defense, Energy Projects in Canada

Royal Bank of Canada is eyeing Canada’s expected boom in defense infrastructure and energy spending as one way to deploy its capital.

“We do see more growth coming from a significant number of projects that are going to get built in this country,” Chief Executive Officer David McKay said Thursday on a call discussing quarterly earnings. “All these multiple-use capabilities that the prime minister and the government have talked about, it’s going to require a significant amount of domestic and foreign capital.”