rbc hsbc featured

RBC Acquires HSBC Bank Canada (HSBC Closes Off Credit Card Applications As Of October 13, 2023)

To the point RBC has agreed to purchase the business of HSBC Bank Canada for $13.5 billion with plans to complete the transaction by the end of 2023.

RBC and HSBC Canada: HSBC card withdrawals as of October 13, 2023

RBC and HSBC Canada: the transaction

A few months ago, HSBC announced that it was looking for a buyer for its Canadian branch, HSBC Canada. And RBC Bank won the bid for $13.5 billion.

Hsbc Premier Agency
Hsbc Premier Agency

With HSBC Canada, RBC will further position itself with certain clients with wealth management needs such as :

  • International customers
  • Newcomers

HSBC has 130 branches in Canada and 4,200 employees (including 450 in Quebec).

In comparison, RBC has 65,000 full-time employees in Canada.

HSBC and RBC: Credit Cards

Hsbc We 2 1
rbc avion featured milesopedia

Bottom Line

Come to discuss that topic in our Facebook Group!
Jean-Maximilien is an expert in Canada and France about Loyalty programs, Credit cards and Travel. He is the Founding President of Milesopedia.

Suggested Reading