As part of the deal, which is slated to close by late 2023, RBC will acquire all of HSBC Canada’s shares at a price that works out to 9.4 times the unit’s adjusted 2024 earnings of $1.4 billion, RBC said.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
“It’s also a strong cultural fit for both our clients and employees,” McKay added. “The transaction is financially compelling as it also creates immediate value for the strategic deployment of excess capital, highly achievable expense savings, and a well-understood revenue cross-sell opportunity.” “At the bottom line, we are committed to make sure that conveniences that our customers have now, and value propositions that they’re used to, remain,” he said.
“The transaction is, of course, subject to regulatory approvals,” Dechaine said in a Nov. 29 note. “A big question facing ’s pursuit of HSBC Canada is feedback from the Competition Bureau. We estimate will be increasing its current 21 per cent domestic market share in loans and deposits by about 200 each.”Article content
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