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STORY: HSBC has agreed to sell its Canadian business to Royal Bank of Canada for around $10 billion in cash. It paves the way for a potential bumper payout for shareholders further down the line.
HSBC has been under pressure to cut costs and divest non-Asian businesses. [9] The acquisition was completed on March 28, 2024. All HSBC Canada branches closed at midday on March 28. Twenty-five of these branches, most in close proximity to existing RBC branches, closed permanently with the sale; the others reopened as RBC branches on April 1 ...
HSBC Holdings plc: Republic New York Corporation HSBC Bank USA: HSBC Bank USA: 1999 Firstar Corporation: Mercantile Bancorporation: Firstar Corporation: U.S. Bancorp: 1999 AmSouth Bancorporation: First American National Bank: AmSouth Bancorporation: $6.3 billion Regions Financial: 2000 Wells Fargo & Co. National Bank of Alaska: Wells Fargo & Co ...
HONG KONG/LONDON (Reuters) -HSBC merged some operations and split its geographic footprint into East and West in a sweeping restructuring under new CEO Georges Elhedery that also included the ...
RBC Bank is a US banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States, [6] but now only offers cross-border banking services to Canadian travellers and expats. RBC's other Los Angeles-based US subsidiary City National Bank operates 79 branches across 11 US states. [7]
In April 2022, Citizens completed the acquisition of 80 branches from HSBC in New York City, New Jersey, Pennsylvania, Washington, D.C., Maryland, Virginia, and Florida. [56] In July 2021, Citizens announced plans to acquire New Jersey–based bank holding company Investors Bancorp for $3.5 billion. Citizens took over more than 150 branches ...
In 1998, the Bank of Montreal proposed a merger with the Royal Bank of Canada around the same time that CIBC proposed to combine with the Toronto-Dominion Bank. [23] The banks argued that these mergers would enable them to compete globally with other financial institutions. [33] This would have left Canada with only three major national banks.
This category contains companies acquired by HSBC, which no longer trade under their pre acquisition names, or which have been acquired and subsequently resold. Pages in category "HSBC acquisitions" The following 22 pages are in this category, out of 22 total.