Royal Bank of Canada T.RY

Alternate Symbol(s): RY | RBCPF | T.RY.PR.J | T.RY.PR.M | RBMCF | T.RY.PR.N | T.RY.PR.O | RYLBF | T.RY.PR.S

Financial Services Banks - Global

Royal Bank of Canada is a global financial institution. Its business includes Personal & Commercial Banking, Wealth Management, Investor Services, Capital Markets and Insurance. The Personal & Commercial Banking comprises its personal banking operations and certain retail investment businesses in Canada, the Caribbean and United States, as well as its commercial and corporate banking operations in Canada and the Caribbean. Wealth Management provides a full suite of investment, trust and other wealth management solutions and businesses. Capital Markets provides public and private companies, institutional investors, governments and central banks globally with a range of capital markets products and services across its two main business lines, Corporate and Investment Banking and Global Markets. Insurance offers a range of life, health, home, auto, travel, wealth and reinsurance advice and solutions, and creditor and business insurance services to individual, business and group clients.

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Royal Bank of Canada

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Post by fakmizon Jun 19, 2011 8:26pm

297 Views

Post# 18735733

Sale US assets

It has been reported in the news that Royal Bank of Canada has sold it's US retail operation to PNC Financial Services Group for $3.45 billion. This is near what they paid for it several years ago. Given the current US economy this is a good move by the Royal and should have a positive effect on the stock price in the immediate future.
Moreover the US operation negatively effected the Royal's profits for several quarters and this negativeism should cease upon completion of the sale resulting in increased profits and hopefully further dividend increases.

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