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RBC Exclusive: Completes $9.96bn Acquisition of HSBC Canada – The Deal Explained

HSBC Holdings has successfully concluded the sale of its Canadian branch, HSBC Bank Canada, to the Royal Bank of Canada (RBC), with the transaction valued at C$13.5 billion ($9.96 billion).

The RBC head office in downtown Ottawa. PHOTO: Alex Tétreault
The RBC head office in downtown Ottawa. PHOTO: Alex Tétreault

This significant sale, finalized on a Thursday, is poised to bring an estimated gain of $4.9 billion to HSBC in the first quarter of 2024, according to a statement released by the

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