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RBC set to buy HSBC in Canada’s biggest banking deal

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The Royal Bank of Canada is set to buy HSBC’s Canadian business. If the deal goes through, it would mark the biggest banking deal in this country's history.

RBC's $13.5 billion dollar agreement to purchase HSBC means the nation's largest bank is poised to get even bigger, by acquiring Canada's seventh-largest bank.

The deal will be scrutinized by the office of the superintendent of financial institutions, but the Ministry of Finance gets the final say. It will examine the impact on the rights and interests of consumers and business customers and has the authority to impose terms and conditions.

Anne Gaviola has the details.

For more info, please go tohttps://globalnews.ca/news/9311437/rbc-hsbc-canada-deal/

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Category
U.S. & Canada
Tags
global news, RBC, HSBC
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