Business
Royal Bank of Canada to open U.S consumer bank betting for wealthy clients
AGENCY REPORT
Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits.
Chief financial officer of the RBC’s consumer bank, Rod Bolger, , says with this strategy, the bank is joining U.S. rivals including Bank of America, which are expanding their private banking arms.
RBC’s U.S. businesses, including City National bank, which it acquired in 2015, accounts for 23% of total revenue.
Profit at RBC’s overall wealth management business, which accounts for 20% of earnings, grew 4% from a year ago.
-
News4 days agoWidow of late investigative broadcaster Kola Olawuyi dies
-
Crime4 days agoOutrage as NYSC doctor allegedly dies after delay in approving sick leave
-
Latest3 days agoOne killed as ethnic clash erupts in Ibadan following reported overnight stabbing (video)
-
Latest4 days agoLagos arrests 396 beggars in fresh crackdown on street begging (Video)
-
Energy5 days agoGas flaring takes toll on children, residents in Rivers oil-producing communities
-
Aviation4 days agoNIS issues updated guidelines for contactless passport renewal for Nigerians abroad
-
Aviation5 days agoCould you prove that bag is yours? The precautions that could protect you from a travel nightmare
-
Latest5 days agoJonathan rejects political bribery allegation ahead of 2027 elections