RBC to acquire HSBC Canada 30 November 2022Canada Reporter: Lucy Carter
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RBC has entered into an agreement to acquire HSBC Canada, expanding its business banking solutions arm and offering further services to its international business clients.
RBC will benefit from HSBC Canada’s expertise in liquidity management, trade finance, international cash management and sustainable finance. As a result of HSBC Canada’s experience with globally connected clients, RBC will be able to strengthen its international operations.
In turn, HSBC Canada’s clients will gain access to RBC’s digital capabilities, wide product offerings and community connections.
Dave McKay, president and CEO of RBC, comments: “HSBC Canada offers the opportunity to add a complementary business and client base in the market we know best, and position us to be the bank of choice for commercial clients with international needs, newcomers to Canada and affluent clients who need global banking and wealth management capabilities.
“We look forward to serving these new clients and showing them all that RBC can do for them.”
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