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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchi - HSBC Holdings said it completed the C$13.5 billion sale of its Canadian unit, HSBC Bank Canada, to Royal Bank of Canada on Thursday.
The transaction will result in the recognition of an estimated gain of $4.9 billion in the first quarter of 2024, HSBC said in a statement on Friday.RBC previously said the acquisition, which merges Canada's biggest and seventh-biggest lenders, will boost its domestic business as well as its position on the global stage.
HSBC Canada's branches and offices will open for business on Monday, April 1 as RBC locations, RBC said in a separate statement. The merger, RBC's biggest, overcame opposition from environment and anti-monopoly groups as well as conservatives, who lamented the increasing concentration of the industry and the possibility of higher fees for consumers.
Deals of this size in the banking sector have not been attempted in Canada since the early 1990s when RBC's bid for Bank of Montreal was blocked by regulators.
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HSBC completes sale of Canadian unit to RBCThe transaction will result in the recognition of an estimated gain of $4.9 billion in the first quarter of 2024, HSBC said in a statement on Friday. RBC...
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RBC to convert HSBC locations as soon as takeover closes next weekBranches and offices being converted into RBC locations will reopen on April 1
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RBC to convert HSBC locations as soon as takeover closes next weekTORONTO — Royal Bank of Canada is planning to turn its soon-to-be-acquired HSBC Bank Canada properties into RBC locations immediately after taking ownership....
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RBC to convert HSBC locations as soon as takeover closes next weekTORONTO — Royal Bank of Canada is planning to turn its soon-to-be-acquired HSBC Bank Canada properties into RBC locations immediately after taking ownership.
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RBC to close 25 HSBC locations, convert others once takeover closes next weekTORONTO — Royal Bank of Canada says it will be closing 25 HSBC Bank Canada branches and rebranding dozens more after its takeover deal closes next week.
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RBC to close 25 HSBC locations, convert others once takeover closes next weekRoyal Bank of Canada says it will be closing 25 HSBC Bank Canada branches and rebranding dozens more after its takeover deal closes next week.
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