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<!--Generated by DataTracks Rainbow version 3.5 for DFIN Solutions on 12-January-2026 [04:16:42] {PM}-->
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_FinancialAssetsSecuritiesAbstract" xml:lang="en">Financial assets securities [abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_FinancialAssetsSecuritiesAbstract" xlink:to="lab_ry_FinancialAssetsSecuritiesAbstract" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_FinancialAssetsSecurities" xlink:label="loc_ry_FinancialAssetsSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_FinancialAssetsSecurities" xml:lang="en">Financial assets securities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_FinancialAssetsSecurities" xml:lang="en">Financial assets securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_FinancialAssetsSecurities" xlink:to="lab_ry_FinancialAssetsSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_FinancialAssetsSecurities" xml:lang="en">Securities are comprised of Trading and Investment Securities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InvestmentSecuritiesNetOfApplicableAllowance" xlink:label="loc_ry_InvestmentSecuritiesNetOfApplicableAllowance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InvestmentSecuritiesNetOfApplicableAllowance" xml:lang="en">Investment Securities Net Of Applicable Allowance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InvestmentSecuritiesNetOfApplicableAllowance" xlink:to="lab_ry_InvestmentSecuritiesNetOfApplicableAllowance" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_InvestmentSecuritiesNetOfApplicableAllowance" xml:lang="en">Investment securities represent debt and equity securities whose changes in fair value goes through OCI (FVOCI) and debt securities that are measured at amortized cost, net of the related allowance.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_TradingSecuritiesAtFairValueThroughProfitOrLoss" xlink:label="loc_ry_TradingSecuritiesAtFairValueThroughProfitOrLoss" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_TradingSecuritiesAtFairValueThroughProfitOrLoss" xml:lang="en">Trading Securities At Fair Value Through Profit Or Loss</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_TradingSecuritiesAtFairValueThroughProfitOrLoss" xlink:to="lab_ry_TradingSecuritiesAtFairValueThroughProfitOrLoss" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_TradingSecuritiesAtFairValueThroughProfitOrLoss" xml:lang="en">Trading securities at fair value through profit or loss.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_LoansAbstract" xlink:label="loc_ry_LoansAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_LoansAbstract" xml:lang="en">Loans [abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_LoansAbstract" xlink:to="lab_ry_LoansAbstract" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AllowanceAccountForCreditLossesOfLoans" xlink:label="loc_ry_AllowanceAccountForCreditLossesOfLoans" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AllowanceAccountForCreditLossesOfLoans" xml:lang="en">Allowance Account For Credit Losses Of Loans</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_AllowanceAccountForCreditLossesOfLoans" xml:lang="en">Allowance Account For Credit Losses Of Loans</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AllowanceAccountForCreditLossesOfLoans" xlink:to="lab_ry_AllowanceAccountForCreditLossesOfLoans" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AllowanceAccountForCreditLossesOfLoans" xml:lang="en">The amount of an allowance account used to record impairments to loans.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_LoansBeforeAllowanceForLoanLosses" xlink:label="loc_ry_LoansBeforeAllowanceForLoanLosses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_LoansBeforeAllowanceForLoanLosses" xml:lang="en">Loans Before Allowance For Loan Losses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_LoansBeforeAllowanceForLoanLosses" xml:lang="en">Loans Before Allowance For Loan Losses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_LoansBeforeAllowanceForLoanLosses" xlink:to="lab_ry_LoansBeforeAllowanceForLoanLosses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_LoansBeforeAllowanceForLoanLosses" xml:lang="en">The amount of Retail and Wholesale loans made by the entity before allowance for loan losses.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_LoansNet" xlink:label="loc_ry_LoansNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_LoansNet" xml:lang="en">Loans Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_LoansNet" xml:lang="en">Loans Net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_LoansNet" xlink:to="lab_ry_LoansNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_LoansNet" xml:lang="en">The amount of Retail and Wholesale loans made by the entity, net of the allowance for loan losses.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_RetailLoans" xlink:label="loc_ry_RetailLoans" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_RetailLoans" xml:lang="en">Retail loans</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_RetailLoans" xlink:to="lab_ry_RetailLoans" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_RetailLoans" xml:lang="en">Represents the amount of Retail loans made by the entity, including residential mortgages, personal lending products, credit cards, and lending products to certain small businesses.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_WholesaleLoans" xlink:label="loc_ry_WholesaleLoans" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_WholesaleLoans" xml:lang="en">Wholesale loans</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_WholesaleLoans" xlink:to="lab_ry_WholesaleLoans" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_WholesaleLoans" xml:lang="en">Represents the amount of Wholesale loans made by the entity, which includes lending to businesses, sovereign and bank entities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_OtherMiscellaneousAssets" xlink:label="loc_ry_OtherMiscellaneousAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_OtherMiscellaneousAssets" xml:lang="en">Other miscellaneous assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_OtherMiscellaneousAssets" xml:lang="en">Other miscellaneous assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_OtherMiscellaneousAssets" xlink:to="lab_ry_OtherMiscellaneousAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_OtherMiscellaneousAssets" xml:lang="en">The total amount of other assets including customers' liabilities under acceptances, derivatives, premises and equipment, goodwill, other intangibles, and other assets that the entity does not separately disclose in the same statement.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_DepositsAbstract" xlink:label="loc_ry_DepositsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_DepositsAbstract" xml:lang="en">Deposits [Abstract]</label>
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<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_Deposits" xlink:label="loc_ry_Deposits" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_Deposits" xml:lang="en">Deposits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_Deposits" xml:lang="en">Deposits</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_Deposits" xlink:to="lab_ry_Deposits" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_Deposits" xml:lang="en">The total amount of deposit liabilities held by the entity.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_DepositsFromBusinessAndGovernment" xlink:label="loc_ry_DepositsFromBusinessAndGovernment" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_DepositsFromBusinessAndGovernment" xml:lang="en">Deposits from business and government</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_DepositsFromBusinessAndGovernment" xlink:to="lab_ry_DepositsFromBusinessAndGovernment" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_DepositsFromBusinessAndGovernment" xml:lang="en">The amount of deposit liabilities from business and government held by the entity.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_DepositsFromCustomersOtherThanBusinessGovernmentAndBank" xlink:label="loc_ry_DepositsFromCustomersOtherThanBusinessGovernmentAndBank" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_DepositsFromCustomersOtherThanBusinessGovernmentAndBank" xml:lang="en">Deposits From Customers Other Than Business Government And Bank</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_DepositsFromCustomersOtherThanBusinessGovernmentAndBank" xlink:to="lab_ry_DepositsFromCustomersOtherThanBusinessGovernmentAndBank" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_DepositsFromCustomersOtherThanBusinessGovernmentAndBank" xml:lang="en">The amount of deposit liabilities from customers held by the entity, other than business and government, and banks.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ObligationsRelatedToSecuritiesSoldShort" xlink:label="loc_ry_ObligationsRelatedToSecuritiesSoldShort" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ObligationsRelatedToSecuritiesSoldShort" xml:lang="en">Obligations related to securities sold short</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ObligationsRelatedToSecuritiesSoldShort" xlink:to="lab_ry_ObligationsRelatedToSecuritiesSoldShort" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ObligationsRelatedToSecuritiesSoldShort" xml:lang="en">Obligations related to securities sold short.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_OtherMiscellaneousLiabilities" xlink:label="loc_ry_OtherMiscellaneousLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_OtherMiscellaneousLiabilities" xml:lang="en">Other miscellaneous liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_OtherMiscellaneousLiabilities" xml:lang="en">Other miscellaneous liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_OtherMiscellaneousLiabilities" xlink:to="lab_ry_OtherMiscellaneousLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_OtherMiscellaneousLiabilities" xml:lang="en">The total amount of other liabilities including acceptances, obligations related to securities sold short, obligations related to assets sold under repurchase agreements and securities loaned, derivatives, insurance claims and policy benefit liabilities, and other liabilities that the entity does not separately disclose in the same statement.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_DividendsDeclaredOrdinarySharesPerShare" xlink:label="loc_ry_DividendsDeclaredOrdinarySharesPerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_DividendsDeclaredOrdinarySharesPerShare" xml:lang="en">Dividends Declared Ordinary Shares Per Share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_DividendsDeclaredOrdinarySharesPerShare" xlink:to="lab_ry_DividendsDeclaredOrdinarySharesPerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_DividendsDeclaredOrdinarySharesPerShare" xml:lang="en">Dividends declared ordinary shares per share.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="loc_ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" xml:lang="en">Increase (decrease) in allowance account for credit losses of financial assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="lab_ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InterestanddividendincomeAbstract" xlink:label="loc_ry_InterestanddividendincomeAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InterestanddividendincomeAbstract" xml:lang="en">Interest and dividend income [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InterestanddividendincomeAbstract" xlink:to="lab_ry_InterestanddividendincomeAbstract" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_DepositsAndOtherInterestIncome" xlink:label="loc_ry_DepositsAndOtherInterestIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_DepositsAndOtherInterestIncome" xml:lang="en">Deposits And Other Interest Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_DepositsAndOtherInterestIncome" xlink:to="lab_ry_DepositsAndOtherInterestIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_DepositsAndOtherInterestIncome" xml:lang="en">Deposits and other interest income.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InterestAndDividendIncome" xlink:label="loc_ry_InterestAndDividendIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InterestAndDividendIncome" xml:lang="en">Interest And Dividend Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_InterestAndDividendIncome" xml:lang="en">Interest And Dividend Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InterestAndDividendIncome" xlink:to="lab_ry_InterestAndDividendIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_InterestAndDividendIncome" xml:lang="en">The amount of income arising from interest and dividend.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_SecuritiesIncome" xlink:label="loc_ry_SecuritiesIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_SecuritiesIncome" xml:lang="en">Securities income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_SecuritiesIncome" xlink:to="lab_ry_SecuritiesIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_SecuritiesIncome" xml:lang="en">The amount of income arising related to Trading and Investment securities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InterestexpenseAbstract" xlink:label="loc_ry_InterestexpenseAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InterestexpenseAbstract" xml:lang="en">Interest expense [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InterestexpenseAbstract" xlink:to="lab_ry_InterestexpenseAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_InterestExpense" xlink:label="loc_ifrs-full_InterestExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_InterestExpense" xml:lang="en">Interest expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpense" xlink:to="lab_ifrs-full_InterestExpense" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InterestExpenseOnDepositsAndOther" xlink:label="loc_ry_InterestExpenseOnDepositsAndOther" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InterestExpenseOnDepositsAndOther" xml:lang="en">Interest Expense On Deposits And Other</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InterestExpenseOnDepositsAndOther" xlink:to="lab_ry_InterestExpenseOnDepositsAndOther" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_InterestExpenseOnDepositsAndOther" xml:lang="en">The amount of interest expense on deposits.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InterestExpenseOnSubordinatedDebentures" xlink:label="loc_ry_InterestExpenseOnSubordinatedDebentures" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InterestExpenseOnSubordinatedDebentures" xml:lang="en">Interest Expense On Subordinated Debentures</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InterestExpenseOnSubordinatedDebentures" xlink:to="lab_ry_InterestExpenseOnSubordinatedDebentures" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_InterestExpenseOnSubordinatedDebentures" xml:lang="en">Interest expense on subordinated debentures.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InterestRevenueExpenseNet" xlink:label="loc_ry_InterestRevenueExpenseNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InterestRevenueExpenseNet" xml:lang="en">Interest Revenue Expense Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_InterestRevenueExpenseNet" xml:lang="en">Interest Revenue Expense Net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InterestRevenueExpenseNet" xlink:to="lab_ry_InterestRevenueExpenseNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_InterestRevenueExpenseNet" xml:lang="en">The amount of net income or expense arising from interest.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_NoninterestexpenseAbstract" xlink:label="loc_ry_NoninterestexpenseAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_NoninterestexpenseAbstract" xml:lang="en">Non interest expense [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_NoninterestexpenseAbstract" xlink:to="lab_ry_NoninterestexpenseAbstract" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_CommunicationsAndMarketingExpense" xlink:label="loc_ry_CommunicationsAndMarketingExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_CommunicationsAndMarketingExpense" xml:lang="en">Communications And Marketing Expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_CommunicationsAndMarketingExpense" xlink:to="lab_ry_CommunicationsAndMarketingExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_CommunicationsAndMarketingExpense" xml:lang="en">Communication and marketing related expenses.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_EquipmentExpense" xlink:label="loc_ry_EquipmentExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_EquipmentExpense" xml:lang="en">Equipment Expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_EquipmentExpense" xlink:to="lab_ry_EquipmentExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_EquipmentExpense" xml:lang="en">The amount of expense for depreciation, computer rental and maintenance, and office equipment rental and maintenance.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_NonInterestExpense" xlink:label="loc_ry_NonInterestExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_NonInterestExpense" xml:lang="en">Non Interest Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_NonInterestExpense" xml:lang="en">Non Interest Expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_NonInterestExpense" xlink:to="lab_ry_NonInterestExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_NonInterestExpense" xml:lang="en">Total aggregate amount of all non-interest expense.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_NoninterestincomeAbstract" xlink:label="loc_ry_NoninterestincomeAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_NoninterestincomeAbstract" xml:lang="en">Non interest income [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_NoninterestincomeAbstract" xlink:to="lab_ry_NoninterestincomeAbstract" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_CreditCardFeeIncome" xlink:label="loc_ry_CreditCardFeeIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_CreditCardFeeIncome" xml:lang="en">Credit Card Fee Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_CreditCardFeeIncome" xlink:to="lab_ry_CreditCardFeeIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_CreditCardFeeIncome" xml:lang="en">Credit card fee income.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ForeignExchangeRevenueOtherThanTrading" xlink:label="loc_ry_ForeignExchangeRevenueOtherThanTrading" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ForeignExchangeRevenueOtherThanTrading" xml:lang="en">Foreign exchange revenue other than trading</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ForeignExchangeRevenueOtherThanTrading" xlink:to="lab_ry_ForeignExchangeRevenueOtherThanTrading" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ForeignExchangeRevenueOtherThanTrading" xml:lang="en">Foreign exchange revenue, other than trading.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_GainsLossesOnInvestmentSecurities" xlink:label="loc_ry_GainsLossesOnInvestmentSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_GainsLossesOnInvestmentSecurities" xml:lang="en">Gains losses on investment securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_GainsLossesOnInvestmentSecurities" xlink:to="lab_ry_GainsLossesOnInvestmentSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_GainsLossesOnInvestmentSecurities" xml:lang="en">The gains (losses) on Investment Securities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_InsuranceInvestmentResult" xlink:label="loc_ry_InsuranceInvestmentResult" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_InsuranceInvestmentResult" xml:lang="en">Insurance Investment Result</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_InsuranceInvestmentResult" xlink:to="lab_ry_InsuranceInvestmentResult" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_InsuranceInvestmentResult" xml:lang="en">Insurance investment result.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_MutualFundRevenue" xlink:label="loc_ry_MutualFundRevenue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_MutualFundRevenue" xml:lang="en">Mutual fund revenue</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_MutualFundRevenue" xlink:to="lab_ry_MutualFundRevenue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_MutualFundRevenue" xml:lang="en">The amount of income recognised from management fees (excluding investment management fees), administration and distribution fees, and performance fees.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_NonInterestIncome" xlink:label="loc_ry_NonInterestIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_NonInterestIncome" xml:lang="en">Non Interest Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_NonInterestIncome" xml:lang="en">Non Interest Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_NonInterestIncome" xlink:to="lab_ry_NonInterestIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_NonInterestIncome" xml:lang="en">Non interest income.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ServiceCharges" xlink:label="loc_ry_ServiceCharges" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ServiceCharges" xml:lang="en">Service Charges</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ServiceCharges" xlink:to="lab_ry_ServiceCharges" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ServiceCharges" xml:lang="en">The total amount of income which may be derived from standard monthly and transaction based service charges related to deposit accounts, including fees related to the withdrawl of funds, cheques, and transfer fees. Other services charges include payment services, such as drafts, money orders, and email transfers, as well as charges related to cash management products for businesses."</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_UnderwritingAndAdvisoryFeeIncome" xlink:label="loc_ry_UnderwritingAndAdvisoryFeeIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_UnderwritingAndAdvisoryFeeIncome" xml:lang="en">Underwriting and advisory fee income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_UnderwritingAndAdvisoryFeeIncome" xlink:to="lab_ry_UnderwritingAndAdvisoryFeeIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_UnderwritingAndAdvisoryFeeIncome" xml:lang="en">Underwriting and other advisory fees primarily relate to underwriting of new issuances of debt or equity and various advisory services, such as merger and acquisitions.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" xlink:label="loc_ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" xml:lang="en">Provision For Credit Losses On Debt Securities And Loans At Fair Value Through Other Comprehensive Income Net Of Tax Recognized In Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" xml:lang="en">Provision For Credit Losses On Debt Securities And Loans At Fair Value Through Other Comprehensive Income Net Of Tax Recognized In Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" xlink:to="lab_ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ProvisionForCreditLossesOnDebtSecuritiesAndLoansAtFairValueThroughOtherComprehensiveIncomeNetOfTaxRecognizedInIncome" xml:lang="en">Provision for credit losses on debt securities and loans at fair value through other comprehensive income net of tax recognized in income.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" xlink:label="loc_ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" xml:lang="en">Other Comprehensive Income Net Of Tax Total Exchange Differences On Translation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" xml:lang="en">Other Comprehensive Income Net Of Tax Total Exchange Differences On Translation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" xlink:to="lab_ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_OtherComprehensiveIncomeNetOfTaxTotalExchangeDifferencesOnTranslation" xml:lang="en">The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated, and related to hedges of net investments in foreign operations.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DividendsPaidOrdinaryShares" xlink:label="loc_ifrs-full_DividendsPaidOrdinaryShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidOrdinaryShares" xml:lang="en">Dividends paid, ordinary shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidOrdinaryShares" xlink:to="lab_ifrs-full_DividendsPaidOrdinaryShares" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DividendsPaidOtherShares" xlink:label="loc_ifrs-full_DividendsPaidOtherShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidOtherShares" xml:lang="en">Dividends paid, other shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidOtherShares" xlink:to="lab_ifrs-full_DividendsPaidOtherShares" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_OrdinarySharesPurchasedForCancellation" xlink:label="loc_ry_OrdinarySharesPurchasedForCancellation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_OrdinarySharesPurchasedForCancellation" xml:lang="en">Ordinary shares purchased for cancellation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_OrdinarySharesPurchasedForCancellation" xml:lang="en">Ordinary shares purchased for cancellation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_OrdinarySharesPurchasedForCancellation" xlink:to="lab_ry_OrdinarySharesPurchasedForCancellation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_OrdinarySharesPurchasedForCancellation" xml:lang="en">Common shares purchased for cancellation.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" xlink:label="loc_ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" xml:lang="en">Purchases Of Treasury Shares And Other Equity Instruments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" xml:lang="en">Purchases Of Treasury Shares And Other Equity Instruments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" xlink:to="lab_ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_PurchasesOfTreasurySharesAndOtherEquityInstruments" xml:lang="en">Purchases of treasury shares and other equity instruments.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" xlink:label="loc_ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" xml:lang="en">Redemption Of Preferred Shares And Other Equity Instruments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" xml:lang="en">Redemption Of Preferred Shares And Other Equity Instruments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" xlink:to="lab_ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_RedemptionOfPreferredSharesAndOtherEquityInstruments" xml:lang="en">Redemption of preferred shares and other equity instruments.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_SalesOfTreasurySharesAndOtherEquityInstruments" xlink:label="loc_ry_SalesOfTreasurySharesAndOtherEquityInstruments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_SalesOfTreasurySharesAndOtherEquityInstruments" xml:lang="en">Sales Of Treasury Shares And Other Equity Instruments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_SalesOfTreasurySharesAndOtherEquityInstruments" xlink:to="lab_ry_SalesOfTreasurySharesAndOtherEquityInstruments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_SalesOfTreasurySharesAndOtherEquityInstruments" xml:lang="en">Sales of treasury shares and other equity instruments.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="en">Net cash flows from (used in) financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ChangeInShortTermBorrowingsSubsidiaries" xlink:label="loc_ry_ChangeInShortTermBorrowingsSubsidiaries" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ChangeInShortTermBorrowingsSubsidiaries" xml:lang="en">Change in short term borrowings subsidiaries</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ChangeInShortTermBorrowingsSubsidiaries" xlink:to="lab_ry_ChangeInShortTermBorrowingsSubsidiaries" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ChangeInShortTermBorrowingsSubsidiaries" xml:lang="en">Change in short-term borrowings of subsidiaries.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" xlink:label="loc_ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" xml:lang="en">Dividends Paid On Shares And Distributions Paid On Other Equity Instruments Classified As Financing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" xml:lang="en">Dividends Paid On Shares And Distributions Paid On Other Equity Instruments Classified As Financing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" xlink:to="lab_ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_DividendsPaidOnSharesAndDistributionsPaidOnOtherEquityInstrumentsClassifiedAsFinancingActivities" xml:lang="en">The cash outflow for dividends paid on shares by the entity and distributions paid on other equity instruments, classified as financing activities.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xml:lang="en">Dividends paid to non-controlling interests, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_PaymentsForPurchaseOfTreasuryShares" xlink:label="loc_ry_PaymentsForPurchaseOfTreasuryShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_PaymentsForPurchaseOfTreasuryShares" xml:lang="en">Payments for purchase of treasury shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_PaymentsForPurchaseOfTreasuryShares" xml:lang="en">Payments for purchase of treasury shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_PaymentsForPurchaseOfTreasuryShares" xlink:to="lab_ry_PaymentsForPurchaseOfTreasuryShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_PaymentsForPurchaseOfTreasuryShares" xml:lang="en">The cash outflow from the purchase of treasury shares.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xml:lang="en">Payments of lease liabilities, classified as financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" xlink:label="loc_ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" xml:lang="en">Payments To Acquire Entitys Ordinary Shares For Cancellation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" xml:lang="en">Payments To Acquire Entitys Ordinary Shares For Cancellation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" xlink:to="lab_ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_PaymentsToAcquireEntitysOrdinarySharesForCancellation" xml:lang="en">The cash outflow to acquire entity's ordinary shares for cancellation.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ProceedsFromIssuanceOfSubordinatedDebentures" xlink:label="loc_ry_ProceedsFromIssuanceOfSubordinatedDebentures" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ProceedsFromIssuanceOfSubordinatedDebentures" xml:lang="en">Proceeds From Issuance Of Subordinated Debentures</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ProceedsFromIssuanceOfSubordinatedDebentures" xlink:to="lab_ry_ProceedsFromIssuanceOfSubordinatedDebentures" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ProceedsFromIssuanceOfSubordinatedDebentures" xml:lang="en">Proceeds from issuance of subordinated debentures</label>
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_RepaymentsOfSubordinatedLiabilities" xlink:label="loc_ifrs-full_RepaymentsOfSubordinatedLiabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_RepaymentsOfSubordinatedLiabilities" xml:lang="en">Repayments of subordinated liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfSubordinatedLiabilities" xlink:to="lab_ifrs-full_RepaymentsOfSubordinatedLiabilities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="en">Net cash flows from (used in) investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.ifrs.org/taxonomy/2024-03-27/full_ifrs/full_ifrs-cor_2024-03-27.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xml:lang="en">Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" xlink:label="loc_ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" xml:lang="en">Cash Inflow (Outflow) From Sale (Purchase) Of Premises And Equipment And Other Intangibles</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" xml:lang="en">Cash Inflow (Outflow) From Sale (Purchase) Of Premises And Equipment And Other Intangibles</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" xlink:to="lab_ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_CashInflowOutflowFromSalePurchaseOfPremisesAndEquipmentAndOtherIntangibles" xml:lang="en">Cash inflow (outflow) from sale (purchase) of premises and equipment and other intangibles.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ProceedsFromOrCashTransferredForDisposalOfSubsidiariesBusinessesAssociatesAndJointVentures" xlink:label="loc_ry_ProceedsFromOrCashTransferredForDisposalOfSubsidiariesBusinessesAssociatesAndJointVentures" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ProceedsFromOrCashTransferredForDisposalOfSubsidiariesBusinessesAssociatesAndJointVentures" xml:lang="en">Proceeds From Or Cash Transferred For Disposal Of Subsidiaries Businesses Associates And Joint Ventures</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ProceedsFromOrCashTransferredForDisposalOfSubsidiariesBusinessesAssociatesAndJointVentures" xlink:to="lab_ry_ProceedsFromOrCashTransferredForDisposalOfSubsidiariesBusinessesAssociatesAndJointVentures" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ProceedsFromOrCashTransferredForDisposalOfSubsidiariesBusinessesAssociatesAndJointVentures" xml:lang="en">Proceeds from or cash transferred for disposal of subsidiaries businesses associates and joint ventures.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" xlink:label="loc_ry_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" xml:lang="en">Proceeds From Sales And Maturities Of Investment Securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" xlink:to="lab_ry_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" xml:lang="en">The cash inflow from sales and maturities of Investment securities, classified as investing activities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" xlink:label="loc_ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" xml:lang="en">Purchase Of Investment Securities Classified As Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" xml:lang="en">Purchase Of Investment Securities Classified As Investing Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" xlink:to="lab_ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_PurchaseOfInvestmentSecuritiesClassifiedAsInvestingActivities" xml:lang="en">The cash outflow for the purchase of Investment securities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForNetChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:label="loc_ry_AdjustmentsForNetChangesInOperatingAssetsAndLiabilitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForNetChangesInOperatingAssetsAndLiabilitiesAbstract" xml:lang="en">Adjustments for net changes in operating assets and liabilities [abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForNetChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="lab_ry_AdjustmentsForNetChangesInOperatingAssetsAndLiabilitiesAbstract" />
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" xlink:label="loc_ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" xml:lang="en">Adjustments For Decrease Increase In Loans Net Of Securitizations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" xml:lang="en">Adjustments For (Decrease) Increase In Loans Net Of Securitizations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" xlink:to="lab_ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForDecreaseIncreaseInLoansNetOfSecuritizations" xml:lang="en">Adjustments for decrease increase in loans net of securitizations.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForDecreaseIncreaseInTradingSecurities" xlink:label="loc_ry_AdjustmentsForDecreaseIncreaseInTradingSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForDecreaseIncreaseInTradingSecurities" xml:lang="en">Adjustments For Decrease (Increase) In Trading Securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForDecreaseIncreaseInTradingSecurities" xlink:to="lab_ry_AdjustmentsForDecreaseIncreaseInTradingSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForDecreaseIncreaseInTradingSecurities" xml:lang="en">Adjustments for decrease (increase) in Trading securities to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" xlink:label="loc_ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" xml:lang="en">Adjustments For Increase (Decrease) In Accrued Interest Receivable And Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" xml:lang="en">Adjustments For Increase (Decrease) In Accrued Interest Receivable And Payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" xlink:to="lab_ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInAccruedInterestReceivableAndPayable" xml:lang="en">Adjustments for increase decrease in accrued interest receivable and payable to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForIncreaseDecreaseInBrokersAndDealersReceivableAndPayable" xlink:label="loc_ry_AdjustmentsForIncreaseDecreaseInBrokersAndDealersReceivableAndPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInBrokersAndDealersReceivableAndPayable" xml:lang="en">Adjustments For Increase (Decrease) In Brokers And Dealers Receivable And Payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForIncreaseDecreaseInBrokersAndDealersReceivableAndPayable" xlink:to="lab_ry_AdjustmentsForIncreaseDecreaseInBrokersAndDealersReceivableAndPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInBrokersAndDealersReceivableAndPayable" xml:lang="en">Adjustments for increase decrease in brokers and dealers receivable and payable o reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForIncreaseDecreaseInDepositsNetOfSecuritizations" xlink:label="loc_ry_AdjustmentsForIncreaseDecreaseInDepositsNetOfSecuritizations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInDepositsNetOfSecuritizations" xml:lang="en">Adjustments For Increase Decrease In Deposits Net Of Securitizations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForIncreaseDecreaseInDepositsNetOfSecuritizations" xlink:to="lab_ry_AdjustmentsForIncreaseDecreaseInDepositsNetOfSecuritizations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInDepositsNetOfSecuritizations" xml:lang="en">Adjustments for increase decrease in total deposits, net of securitizations, to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForIncreaseDecreaseInObligationsRelatedToSecuritiesSoldShort" xlink:label="loc_ry_AdjustmentsForIncreaseDecreaseInObligationsRelatedToSecuritiesSoldShort" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInObligationsRelatedToSecuritiesSoldShort" xml:lang="en">Adjustments For Increase (Decrease) In Obligations Related To Securities Sold Short</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForIncreaseDecreaseInObligationsRelatedToSecuritiesSoldShort" xlink:to="lab_ry_AdjustmentsForIncreaseDecreaseInObligationsRelatedToSecuritiesSoldShort" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForIncreaseDecreaseInObligationsRelatedToSecuritiesSoldShort" xml:lang="en">Adjustments for increase decrease in obligations related to securities sold short to reconcile profit (loss) to net cash flow from (used in) operating activities.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForAmortizationAndImpairmentOfOtherIntangibles" xlink:label="loc_ry_AdjustmentsForAmortizationAndImpairmentOfOtherIntangibles" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForAmortizationAndImpairmentOfOtherIntangibles" xml:lang="en">Adjustments For Amortization And Impairment Of Other Intangibles</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForAmortizationAndImpairmentOfOtherIntangibles" xlink:to="lab_ry_AdjustmentsForAmortizationAndImpairmentOfOtherIntangibles" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForAmortizationAndImpairmentOfOtherIntangibles" xml:lang="en">Adjustments for amortization and impairment of other intangibles.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" xlink:label="loc_ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" xml:lang="en">Adjustments For Income Loss From Joint Ventures And Associates</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" xml:lang="en">Adjustments For Income Loss From Joint Ventures And Associates</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" xlink:to="lab_ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForIncomeLossFromJointVenturesAndAssociates" xml:lang="en">Adjustments for income loss from joint ventures and associates.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForLossesGainsOnDisposalOfBusinesses" xlink:label="loc_ry_AdjustmentsForLossesGainsOnDisposalOfBusinesses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForLossesGainsOnDisposalOfBusinesses" xml:lang="en">Adjustments For Losses Gains On Disposal Of Businesses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ry_AdjustmentsForLossesGainsOnDisposalOfBusinesses" xlink:to="lab_ry_AdjustmentsForLossesGainsOnDisposalOfBusinesses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_ry_AdjustmentsForLossesGainsOnDisposalOfBusinesses" xml:lang="en">Adjustments for losses gains on disposal of businesses.</label>
<loc xlink:type="locator" xlink:href="ES7IP3U3RHIGC71XBU11-2025-10-31.xsd#ry_AdjustmentsForLossesGainsOnInvestmentSecurities" xlink:label="loc_ry_AdjustmentsForLossesGainsOnInvestmentSecurities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ry_AdjustmentsForLossesGainsOnInvestmentSecurities" xml:lang="en">Adjustments for losses (gains) on investment securities</label>
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