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On June 1, 2004, HSBC Bank Canada completed its acquisition of Intesa Bank's Canadian unit, which had 11 branches and total assets of Can$1.1 billion. On September 20, 2011, HSBC Canada sold its full-service brokerage division, HSBC Securities (Canada) Inc., to National Bank Financial Group for Can$208 million. [6]
HSBC was the third-largest issuer of private label credit cards in the United States, including cards for more than 70 active merchant relationships, including Best Buy, GM, Yamaha, Kawasaki, Neiman Marcus, Polaris and Saks Fifth Avenue. Most of its card portfolio was sold to Capital One in 2011.
Canada has a strong co-operative financial services sector, which consists of credit unions (caisses populaires in Quebec and other French speaking regions). At the end of 2001, Canada's credit union sector consisted of 681 credit unions and 914 caisses populaires, with more than 3,600 locations and 4,100 automated teller machines. [45]
2019: Peoples Group receives Letters Patent of Incorporation for Peoples Bank of Canada. A Notice of Approval from the Office of the Superintendent of Financial Institutions (OSFI), and the Minister of Finance (Canada) was received. [7] 2014: Peoples Trust and InComm launch first MasterCard prepaid card for mobile payments in Canada.
Acquisitions in 2005 included Metris Inc, a US credit card issuer for $1.6 billion in August [43] and 70.1% of Dar es Salaam Investment Bank of Iraq in October. [44] In April 2006, HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro for $155 million. [45] In December 2007 HSBC acquired the Chinese Bank in Taiwan. [46]
Royal Bank of Canada (RBC; French: Banque Royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 20 million clients and has more than 100,000 employees worldwide. [ 2 ]
Initially focused on providing credit through in-house store cards, the bank now provides a range of products to personal customers including credit cards, loans, savings, insurance and foreign currency exchange. M&S Bank is operated as a joint-venture with HSBC UK and has been a wholly owned subsidiary of the latter since its sale in November ...
Simplii offered its affected customers credit monitoring and identity theft insurance for free at the time of the breach, while also gifting $100 prepaid VISA cards in goodwill. [ 17 ] In June 2018, it was reported that there were proposed class-action lawsuits filed against Simplii Financial and BMO for the data breaches, [ 18 ] which were ...