Trending: Royal Bank of Canada to Buy HSBC Bank Canada for C$13.5 Billion
November 29 2022 - 02:31PM
Dow Jones News
14:01 ET -- Royal Bank of Canada is one of the most talked about
companies in the U.S. across all news items in the last 12 hours,
according to Factiva data. The bank said it will acquire the
Canadian unit of the British banking and financial services giant
HSBC Holdings PLC for 13.5 billion Canadian dollars ($10 billion).
HSBC Bank Canada has about C$134 billion in assets as of Sept. 30
with 130 branches and 4,200 full-time equivalent employees. Royal
Bank says the acquisition builds on its core domestic retail
business and expands international product capabilities. The deal
is expected to be about 6% EPS accretive relative to 2024 consensus
estimates for Royal Bank. Dow Jones & Co. owns Factiva.
(jennifer.tershak@wsj.com)
(END) Dow Jones Newswires
November 29, 2022 14:16 ET (19:16 GMT)
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