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RBC Insight: $10.2bn Acquisition of HSBC Unit Approved

Royal Bank of Canada (RBC) has received approval for its $10.2 billion acquisition of HSBC’s domestic unit in Canada.

A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015. Photo: Getty Images

The deal solidifies RBC’s position as one of the top lenders in the country.

However, there are certain conditions that RBC must meet for the acquisition to proceed.

One of the conditions is that RBC must establish a global banking hub in Vancouver.

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