is planning to turn its soon-to-be-acquired HSBC Bank Canada properties into RBC locations immediately after taking ownership.
RBC spokesperson Christine Stewart says the bank will begin converting HSBC branches and offices on March 28, the same day its $13.5-billion takeover deal will close, if it clears customary conditions.In advance of the conversion, HSBC told its customers their products, services and balances would be automatically migrated over to similar offerings and accounts from RBC.
HSBC customers were also told they will receive new RBC credit cards in March and see their historical banking and credit card statements and documents migrated to RBC accounts. They were encouraged to download investment documents, which they were told may not be available online after the migration.
RBC announced plans to purchase HSBC Bank Canada in November 2022. At the time, HSBC had about 130 branches and 4,200 employees.Study and track financial data on any traded entity: click to open the full quote page. Data updated as of
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBC analyst picks top TSX stocks by value, growth and price momentumDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Source: globeandmail - 🏆 5. / 92 Read more »
RBC sets aside more money for bad loans but positioning for rate cutsRoyal Bank of Canada joined its peers this quarter in setting more money aside for potentially bad loans, but the bank is also working to position itself to capture the substantial sums of money lying in wait for when economic trends shift.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
RBC tops profit estimates on higher interest and fees income(Reuters) -Royal Bank of Canada on Wednesday beat analysts' estimates for quarterly profit, as its wealth management and capital market divisions benefited...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Renters have harder time accumulating wealth than homeowners: RBC economistTORONTO — Renters face daunting barriers in their attempts to build wealth as they're forced to devote an increasing share of their income to keeping a roof over their head, said an RBC report Thursday.
Source: timescolonist - 🏆 15. / 75 Read more »
RBC employee suffering burnout, anxiety and depression loses disability claimAn off-camera shot of the RBC insider.
Source: CBCAlerts - 🏆 37. / 63 Read more »
Canadian renters spend more of their income on housing costs compared with homeowners: RBC economistRenters face daunting barriers in their attempts to build wealth as they're forced to devote an increasing share of their income to keeping a roof over their head, said an RBC report out Thursday.
Source: CP24 - 🏆 30. / 67 Read more »