Royal Bank of Canada (RBC) and UTS Business School have formed a new partnership that will advance diversity in the finance sector, announcing two scholarships to be offered to female students from 2015.

An undergraduate scholarship will provide a high-potential female student with $5000 a year in their second and third years of study and a separate honours scholarship will provide $5000 to support a year of higher-level studies.

The scholarships will help address concerns about the number of women taking up careers in finance.

RBC is one of the largest banks in the world, and Canada’s leading bank by market capitalisation. It has been present in Australia for more than 30 years, employing about 300 staff in Sydney and Melbourne in its Capital Markets and Investor & Treasury Services business segments.

UTS Business School is one of Australia’s leading business schools and ranked in the top 100 globally for Accounting and Finance in the QS World University Ranking for 2014.

Visit UTS scholarships webpage – http://www.uts.edu.au/future-students/scholarships

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